3 January 2017

NIFTY PREDICTION & FREE F & O CALLS FOR 4 JAN 2017

YESTERDAY’S NIFTY FUTURE ACHIEVED 1ST TGT
NIFTY MOVED ON OUR WORDS MADE AN EXACT HIGH ON 8228
Volatility was there in the market today. The benchmark equity indices closed higher as banks recovered from the previous session's losses on hopes of a pickup in credit growth following cuts in lending rates. While the indices fluctuated between gains and losses through the session, the market breadth remained firmly in favour of the buyers. Sentiments got some support after Union Finance Minister Arun Jaitley expressed hope that Goods and Services Tax (GST) will be implemented in 2017 and a digitised economy will be the future of India. However, gains were limited after a government report showed that Core sector output in the month of November slowed down to 4.9% from 6.6% in October and 5.01% in September, mainly due to decline in production of crude oil and natural gas. Finally, the BSE Sensex ended with a gain of 48 points at 26643. It opened at 26,616, touched an intra-day high of 26,724 and low of 26,488. The NSE Nifty closed with a gain of 13 points at 8192. It opened at 8,196, hit a intraday high of 8219 and low of 8149.
On the upside, the contract has significant resistances at 8100 and 8150 levels. A conclusive rally above the second resistance is needed to strengthen the bullish momentum and take the contract up to 8180 and 8200 in the same period. Therefore, traders with a short-term perspective should desist from trading in the NSE Nifty as long as it trades in the sideways band between 7955 and 7900.
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Supports: 7955 and 7900
Resistances: 8100 and 8150

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