10 October 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 13 OCT

Indian market ended today's listless session on a flat note and Nifty managed to close above its crucial psychological of 8700. Finally, the Sensex ended with a gain of 21 points at 28082. It opened at 28144, touched an intra-day high of 28217 and low of 28068. The Nifty closed with a gain of 17 points at 8715. It opened at 8735, hit an intraday high of 8746 and low of 8704.
On the upside, the contract has significant resistances at 8750 and 8780 levels. A conclusive rally above the second resistance is needed to strengthen the bullish momentum and take the contract up to 8850 and 8900 in the same period. Therefore, traders with a short-term perspective should desist from trading in the index futures contract as long as it trades in the sideways band between 8650 and 8600.
MARKET WILL BE CLOSED FOR NEXT 2 DAYS DUE TO DUSSEHRA and MUHARRAM
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Supports: 8650 and 8600
Resistances: 8750 and 8800

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