11 November 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 15 NOV 2016

NIFTY FUTURE NOT EXECUTED
In sum up to all the price movement market again got stuck in previous trading range after the sharp dip of 500 points. The Sensex which opened at 27344 level was hit by worries US President Donald Trump's policies would be inflationary, leading to higher US interest rates and denting the appeal of emerging markets. The Sensex ended today’s trading with a loss of 699 points at 26819. It opened at 27345, touched an intra-day high of 27345 and low of 26777. The NSE Nifty closed with a loss of 229 points at 8698. It opened at 8457, hit an intra-day high of 8461 and low of 8285.
Now same kind of rangebound move may continue for some time before it starts the next leg of rally. Nifty index is near to crucial zones now and if it fails to hold 8,480 zones then profit booking decline may attract the traders to drag it towards 8400-8380 zones while on the upside, it needs to surpass 8600-8620 zones to attract fresh move towards 8665 and 8720 zones.
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Supports: 8280 and 8200
Resistances: 8500 and 8550

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