19 April 2016

NIFTY OUTLOOK & FREE NIFTY 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"
Yesterday 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.
On Wednesday Nifty may open around the 7910-level. The moot point is whether it stays above the critical level of 7900 or not even if it were to open lower. If it manages to does that then only expect some pullback attempt? On the way up assuming the index opening lower around 7890 the first significant resistance to overcome would be found between 7910 and 7930. Unless the last closing level of 7915 is decisively taken out do not expect any sustainable uptrend. On the contrary, if it slides below 7840-support area it may well slide down to test the next support range between 7820 and 7800.
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RESISTANCE: 7920, 7945, 7980
SUPPORT:  7870, 7840, 7800

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