9 May 2016

NIFTY OUTLOOK & FREE NIFTY & BANKNIFTY TIPS FOR 10 MAY 2016

"CALL FOR 10 MAY 2016" 
CASH : "BUY ENGINERSIN ABOVE 177 TGT 182/184 SL 172"
Bulls are back on the driver seat. Trading for the week begins on an upbeat note. Both the indices the Sensex & CNX Nifty has posted their biggest single-day percentage gains since April 13. Gap up opening was there in the market today. The sensex on Monday settled the day 460 points higher, while broader CNX Nifty jumped above its key resistance level 7860. The market sentiments were boosted by flurry of buying by foreign funds and retail investors amid a firm trend overseas. Besides, a string of encouraging earning numbers so far, rising hopes of an improvement in the country's economy, buoyed trading sentiment. Buying also kicked up after a soft US jobs report gave investors hope that the Federal Reserve would keep any future interest rate hikes small and slow. The Sensex opened strong at 25321 and continued to rise to hit the day's high of 25709. Finally, it settled at almost two-week high of 25688, gain of 460 points. The CNX Nifty reclaimed the 7800-mark to hit a high of 7873 before winding up at 7866.
We have recovered from the lows and have been able to sustain higher levels as we are seeing buying coming in at lower levels. Also, earnings season so far has been fairly positive. Next range to monitor would be between 7895 and 7935—this is formidable resistance zone once crossed firmly would see the CNX Nifty scaling up to the zone between 7955 and 7985  and beyond that 8000. Level 7750 will be proved as very good supporting level for CNX Nifty, .If once it go to 7750 then there will higher probability for CNX Nifty to touch 7735-7700 level once again.
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RESISTANCE: 7895, 7935, 7970
SUPPORT:  7850, 7800, 7775

2 comments:

  1. Hi,

    I'm a young trader who trades in Nifty Index Options. Not a pro but have understanding about the technicals and greeks, thus, have a knack for trading.
    Been trying to make money through intraday call and puts.
    It's been a hit or miss though

    Do you provide tips on strike prices as well?

    As in if you can tip on where Nifty would go on an intraday basis and accordingly suggest calls/puts on strikes.

    Your help would be highly appreciated.

    ReplyDelete
    Replies
    1. Thank you Sir for reading our blog. Surely we will help you. Plz give your mobile number or call on 08982086510

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