20 April 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 21 APRIL 2017

Market eked out modest gains today as banking and IT stocks recovered from recent falls & ended the day on a positive note. The Sensex was up 85 points at 29422, while the Nifty was up 32 points at 9136.  The Bank Nifty closed lower by 0.30 percent at 21491.

Primary resistance would now be at 9155-9185 zone. If the uptrend persists, short-term targets will be in the 9200 zone. Obviously every trend following system would recommend staying long. In technical terms, all trends (short/ medium-term and long-term) seem strongly bullish despite the probability of a further short-term correction on profit-booking.
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Resistance: 9155, 9175, 9200

Support: 9100, 9075, 9050

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