27 September 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 28 SEP 2016

STRADDLE STRATEGY FOR  NIFTY EXPIRY
"BUY 1 LOT NIFTY 8750 CALL @ 25 & 1 LOT NIFTY 8750 PUT @ 40"
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The Sensex ended with a loss of 71 points at 28224. The Sensex opened at 28373 touched an intra-day high of 28433 and low of 27179.The Nifty closed with a loss of 16 points at 8706. The Nifty opened at 8749 hitting a high of 8769 and low of 8691.
The future & option September expiry is near. From medium term perspective the key support is at 8650-8600 level. We expect this level as important one and is likely to absorb any further selling pressure. And most likely market to hold above this level. On the upside supply is coming at 8800, breaking of the level market will find the momentum which is lacking couple of days and will then set for moving above the recent swing high at 8850 level. Investor is advised to initiate long on a break above 8850 with a stop below 8750.
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Supports: 8710 and 8650
Resistances: 8800 and 8850

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