NIFTY OUTLOOK & FREE NIFTY TIPS FOR 17 FEB 2017

Market Sensex surged by 146 points today to close at 28301, snapping a two-session losing run as IT stocks led the recovery after TCS said its board will consider share buyback next week. The Nifty rose 53 points to 8778.  The Sensex, after opening on a strong note at 28,223.85, succumbed to profit-booking and slipped into the negative terrain to hit the day's low of 28146 before bouncing back to close higher by 145 points at 28301. It touched an intra-day high of 28327. The gauge had lost 196 points in the last two days. The Nifty gained 53 points to 8778. Intra-day, it shuttled between 8783 and 8719.

On the upside, 8820 through 8850 would be the first supply zone to watch out for—once this range is taken out we can expect another dash at the 8870 or higher levels. Further up, resistance is likely to be felt between 8900 and 8955. On the other hand, if it were to go down below 8700 and sustain there it is likely to get good support between 8650 and 8600.

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Resistance: 8825, 8850, 8875

Support: 8700, 8675, 8650