Wednesday, August 31, 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 1 SEP 2016

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The Nifty ended with a decisive break above 8700 on Tuesday. Sentiments got a boost with the latest statement from the RBI, sharing optimism over the growth prospect in this fiscal. Also, firm opening of European markets further strengthened the rally. The Sensex and Nifty rose for third straight session on Wednesday led by gains in banking and capital goods stocks. The Sensex ended 109 points higher at 28452 and Nifty advanced 42 points to settle at 8786. Earlier in the day, the Sensex and Nifty registered their fresh 52-week highs. Finally, the Sensex ended with a gain of 109 points at 28452. The Sensex opened at 28372 touched an intra-day high of 28532 and low of 28363. The Nifty closed with a gain of 42 points at 8786. The Nifty opened at 8754 hitting a high of 8819 and low of 8754.
US Fed outcome would play major role in deciding the further movement but for now trade is to go long at every dip. If BankNifty closes below 19500 levels And nifty closes below 8750 levels. Once this range is breached on negative side, BankNifty may see downfall upto 19000-18500 levels and nifty upto 8600/8500 easily. Traders can go for short with given levels. with Strict stoploss 19500 levels for BankNifty and of 8702 levels for Nifty.
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Supports: 8750 and 8700
Resistances: 8850 and 8900
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1 comment:

  1. UnknownSeptember 1, 2016 at 11:21 AM

    Thanks for the informative and useful post about stock market. Happy to get good knowledge from your blog.
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