NIFTY OUTLOOK & FREE NIFTY TIPS FOR 28 DEC 2016

"GET OPTION,FUTURE,CASH,NIFTY OR MCX ANY PACKAGE @ 18500 FOR 6 MONTH "

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The rally in the previous session proved to be a temporary breather as the NSE Nifty today slumped to a 7-month low of 7908 and the Sensex below 26000, hit by talk of higher taxation after Prime Minister's remarks. Today market notched up its biggest single-session rally in about three weeks. Sensex ended above the 26000-mark as it rebounded by 406 points after finance minister Arun Jaitley underlined the need to have globally compatible tax rates to broad-base the economy. The Sensex opened higher and closed at 26213, a gain of 406 points. The NSE Nifty too rebounded from a 7-month low, which was hit on Monday, as it went past the 8,000-mark.The NSE Nifty recovered 124 points, to end at 8032 after moving in a range of 8044 to 7903.

Bias is still but Thursday is the F&O expiry of Dec series, traders should maintain cautious approach especially in index trades. For tomorrow nifty now tests key resistance at 8050. A strong rally beyond this level and the next key resistance at 8075 will strengthen the bullish momentum. In that case, the contract can rally to the 8110 and 8155 band. But the inability to move beyond 8020 will keep the index under selling pressure. A decisive fall below 7950 can pull the contract down to 7925 and then to 7900 levels. The next key supports are at 7850 and 7800 levels.

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Supports: 8000 and 7950

Resistances: 8070 and 8150