26 October 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 27 OCT 2016

NIFTY FUTURE NOT EXECUTED 
TO GET SUCH ROCKING CALLS FILL UP THE FORM GIVEN HERE>>>>
The Indian stock market declined for a second straight day weighed down by disappointing second quarter earnings from Axis Bank while Tata Group stocks extend their slide. The Sensex was trading over 200 points lower, while the Nifty slipped below its crucial psychological support level of 8650 weighed down by losses in realty, power, oil & gas, metal, consumer durable, and banking stocks. The BSE Sensex ended with a loss of 255 points at 27837. The BSE Sensex opened at 28051 touched an intra-day high of 28050 and low of 27760. The NSE Nifty closed with a loss of 76 points at 8615. The NSE Nifty opened at 8657 hitting a high of 8657 and low of 8597.
We reiterate our view to hold positive yet cautious approach till 8600 is intact in Nifty. The Traders with a short-term perspective should tread with caution and consider initiating fresh long positions on a rally beyond 8600 levels. The contract can then extend its rally and test resistances at 8630 and 8680 levels in the near term. On the downside, a decisive fall below key support at 8580 is needed to alter the bullish momentum and drag the contract down to 8550 and then to 8500 levels.
Supports: 8580 and 8550
Resistances: 8630 and 8680


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