17 October 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 18 OCT 2016

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Market saw a positive start today, only to reverse the trend later as the Sensex fell about 144 points to end at an over 3-month low, unnerved by muted start to second quarterly earnings and a lackluster global trend. The Indian stock markets were trading flat to slightly higher on Monday despite mixed cues from other Asian markets.  Finally, the BSE Sensex ended with a loss of 144 points at 27,530. The BSE Sensex opened at 27,776 touched an intra-day high of 27,803 and low of 27,488. The NSE Nifty closed with a loss of 63 points at 8,520. The NSE Nifty opened at 8,613 hitting a high of 8,615 and low of 8,506. It shuttled between 8,615.40 and 8,506.15. The numbers from both TCS and Infosys fell short of the crease as investors did not seem impressed. What clouded sentiment further was US Fed chief Janet Yellen's commentary on the US economy, indicating the need for aggressive steps to reboot it. The effect was immediate as indices globally started turning weak.
On the upside, the Nifty has significant resistances at 8650 and 8700 levels. A conclusive rally above the second resistance is needed to strengthen the bullish momentum and take the contract up to 8750 and 8800 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 8550 and 8500.
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Supports: 8550 and 8500
Resistances: 8650 and 8700

3 comments:

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    1. Thank you Mr.pramod. To get live market calls fill up the form given to ur right side>>>

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