18 April 2016

NIFTY OUTLOOK & FREE NIFTY & STOCK TIPS FOR 20 APRIL 2016

"SELL SBIN FUTURE BELOW 186 TGT 184.60/182.20 SL 188.90"
"BUY DLF 130 CALL @ 1.70 TGT 2.90/3.40"
Market gained weight due to the fine start of the result season and the contraction in WPI inflation to -0.85% has smoothed the way forward. Today indices finished higher for a fourth consecutive session as investors cheered software services firm Infosys' upbeat revenue forecast and its third successive estimate-beating earnings on new client wins. Robust Q4 earnings from IT major Infosys and positive macro data amid above normal monsoon projection lifted sentiment as benchmark indices BSE Sensex and NSE Nifty reclaimed their psychological levels of 25800 and 7900, respectively, today. The global market witnessed a correction as oil producers could not reach a consensus on output freeze. The Sensex ended with a gain of 189 points at 25816. The Sensex opened at 25833 touched an intra-day high of 25870 and low of 25634. The NSE Nifty closed with a gain of 64 points at 7915. The Nifty opened at 7908 hitting a high of 7921 and low of 7843.
Going forward, the market sentiment will depend on the progressing Q4 results season.
For Wednesday we are expecting some good movement from the market We need to watch out for the levels between 7900 - 7935 to begin with on the upside if the Nifty manages to stay above this range we would see it moving up further. In that case, the next range to monitor would be between 7950 and 7965—this is formidable resistance zone once crossed firmly would see the Nifty scaling up to the zone between 7975 and 7990  and beyond that 8000. Level 7870 will be proved as very good supporting level for nifty, .If once it go to 7850 then there will higher probability for nifty to touch 7820-7790 level once again.
Stock markets will remain closed on Tuesday for a public holiday.
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RESISTANCE: 7920, 7945, 7980
SUPPORT:  7870, 7840, 7800

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