27 March 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 28 MARCH 2017

"BUY NIFTY FUTURE @ 9020 TGT 9060/9100 SL 8980"
"BUY RELIANCE 1240 PUT ABOVE 9 TGT 12.4/15.4 SL 4.5"
TO GET FREE TRIAL FOR OPTION,FUTURE,NIFTY FILL UP THE FORM GIVEN HERE>>>>>
Trading for the week began on bearish note. The Sensex, fell 187 points to 29233, as per the provisional closing data. The Nifty fell 62 points to 9045, as per the provisional closing data. Sentiment also took a hit after private weather forecaster Skymet issued a statement today, 27 March 2017, that India's monsoon in 2017 is likely to remain below normal at 95% (with an error margin of +/-5%) of the long period average (LPA) of 887 mm for the four-month period from June to September. This may cause trouble for farmers and decide the fate of Kharif crop that depends heavily on the performance of the southwest Monsoon. Monsoon rain will arrive on the southern tip of Kerala by around June 1 and retreat from the western state of Rajasthan by September.
Bias is still positive but since we're closer to the F&O expiry week, traders should maintain cautious approach especially in index trades. For tomorrow nifty now tests key resistance at 9090. A strong rally beyond this level and the next key resistance at 9155 will strengthen the bullish momentum. In that case, the contract can rally to the 9175 and 9215 band. But the inability to move beyond 9045 will keep the index under selling pressure. A decisive fall below 9005 can pull the contract down to 8975 and then to 8945 levels. The next key supports are at 8905 and 8875 levels.
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Supports: 9045 and 9005
Resistances: 9090 and 9155

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