22 November 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 23 NOV 2016

Market was still volatile. The only positivity is that it was still in green zone. Domestic market pared some of early gains with the Sensex falling below 26000 level, while the Nifty also slipping below its crucial 8000 mark. While the Sensex rose 195 points to 25960 level, the Nifty rose 73 points to close above the 8000 level at 8002 points.
On the upside, the Nifty has significant resistances at 8050 and 8100 levels. A conclusive rally above the second resistance is needed to strengthen the bullish momentum and take the contract up to 8150 and 8200 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 7950 and 7900.
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Supports: 7950 and 7900
Resistances: 8050 and 8100

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