29 December 2016

NIFTY PREDICTION & FREE F & O TIPS FOR 30 DEC 2016

"BUY RELIANCE FUTURE ABOVE 1070 TGT 1078/1089 SL 1051"
"BUY BANKNIFTY WEEKLY EXPIRY 18000 PUT @ 130 TGT 174/222"
After a lot of volatility, the market ended on a firm note. After making a cautious start, Sensex & Nifty continue to hold their head above water but in absence of any positive trigger, amid expiry of December futures and options (F&O) contracts later today. Sentiments got some support with report that the Cabinet Committee on Economic Affairs (CCEA) has approved the Road Connectivity Project for Left Wing Extremism (LWE) Affected Areas. Besides, covering-up of pending short positions with Thursday being this year’s last session of the expiry in the derivatives segment supported the upside. Going forward, the market may turn volatile as traders may roll over positions in the Futures & Options (F&O) segment from the near month i.e. December 2016 series to next month i.e. January 2017 series. Investors remained cautious with report that over 90 percent of junked notes are already deposited in banks, dimming the expectation that Reserve Bank of India (RBI) will be able to give a substantial dividend to the government.
The Sensex ended with a gain of 155 points at 26366. The BSE Sensex opened at 26429 touched an intra-day high of 26430 and low of 26168. The NSE Nifty closed with a gain of 69 points at 8104. The NSE Nifty opened at 8031 hitting a high of 8111 and low of 8021.
We expect 8015-8000 levels on Nifty to provide a decent support. Breaking 8100 would be a daunting task for the market. However, sooner or later we expect the index to surpass this hurdle to extend the bounce-back rally.
More about intraday tips on Google +
Resistance: 8130, 8160, 8190
Support: 8015, 7985, 7955

No comments:

Post a Comment