18 January 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 19 JAN 2017

 The Indian stock market was trading in green on Wednesday on uptick corporate earnings, ahead of quarterly results from major banks. The Sensex ended the day at 27257, up 21 points while the broader Nifty50 settled the day above its 8400-mark, gaining 19 points. Axis Bank and Yes Bank are scheduled to report earnings on Thursday. The government's annual budget is due on February 1 and investors hope for incentives to support an economy hit by cash shortages after a ban on higher-value banknotes. Going forward, market maybe expecting things to be relatively better or at least expects no major negative surprises in numbers especially in relation to the larger financials who are index heavyweights.
We had talked of 8460 as the resistance for the Nifty, likewise, it hit the 8460 mark and then took a u-turn. 8400 will still act as an immediate support for now.
More about intraday tips on Google +
Resistance: 8460, 8485, 8525
Support: 8400, 8350, 8300

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