NIFTY OUTLOOK & FREE NIFTY TIPS FOR 17 JAN 2017

"SELL NIFTY FUTURE BELOW 8430 TGT 8402/8370 SL 8451 "

"BUY IDFCBANK 65 CALL @ 1.10 TGT 1.45/1.75 SL 0.50 "

FOR LIVE MARKET OPTION,STOCK FUTURE,NIFTY FUTURE CALLS FILL UP THE FORM GIVEN HERE>>>>>>
After a weak opening bull has taken the charge in the market & took the nifty above 8400 level. On Monday Nifty index was trading above 8400 level. The sensex & nifty opened on a negative note taking weak cues from the Asian bourses this morning, but recovered in the late morning session itself and thereafter remained standstill throughout the session. Nifty managed to close above crucial level of 8400. Sensex closed above 27300 level. Realty and PSU Banks are top performing sectors. IT, Pharma and FMCG are in the weak position. , Investor pinning hopes that the deadlock over the GST bill will finally end.

On the upside, the Nifty has significant resistances at 8455 and 8485 levels. A conclusive rally above the second resistance is needed to strengthen the bullish momentum and take the contract up to 8530 and 8575 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 8385 and 8335.

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Supports: 8385 and 8335

Resistances: 8455 and 8485