12 September 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 14 SEP 2016

Week has started on bearish node. Bears took the charge on dalal street. Sensex was down 444 while nifty running near 8700 level. Equity benchmarks posted their biggest one-day loss in percentage terms since June 24, tracking global weakness on fears that Federal Reserve may be considering rate hike soon. The market breadth remained in favor of declines. The Sensex ended with a loss of 444 points at 28354. The Sensex opened at 28481 touched an intra-day high of 28481 and low of 28251. The Nifty closed with a loss of 151 points at 8716. The Nifty opened at 8733 hitting a high of 8747 and low of 8699.
There is no reason to be panic as it is a corrective phase after recent sharp rally. Markets may remain volatile ahead of the US Federal Reserve meeting on September 21; investors can make fairly good returns by building positions in certain quality stocks in a staggered way. Next resistance is at 8800-8900.On downside first support is at 8650-8600 level. Next support is at 8580-8550.
13 SEP market will be closed due to Eid.
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Supports: 8650 and 8600
Resistances: 8800 and 8900

2 comments:

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