3 April 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 5 APRIL 2017

"SELL DLF FUTURE BELOW 147 TGT 144.50/142.90 SL 149.80"

"BUY IFCI 32.5 CALL @ 0.45 TGT 0.65/0.95"
FOR LIVE MARKET CALLS FILL UP THE FORM GIVEN HERE>>>>> 

The Nifty continued to register successive new highs and it crossed the 9220 mark on the first trading day of 2017-18. The Sensex and the Nifty today hit record closing high to end at 29910 and 9237, respectively, driven by a rally in index heavy-weights RIL and L&T. A firming trend in global markets as traders look ahead for the US job data release and a meeting between the American and Chinese presidents later in the week also influenced sentiment. Major market trends may remain positive as long as the Nifty holds above the psychologically important 9000 mark.
 The correction on Wednesday still leaves the index above previous all-time highs at 9127. This would be a primary support with more support available below the “gap” at around 8975-9030. Technicians will note that the gap has not been filled in five sessions. Primary resistance would now be at 9235-9255 zone. If the uptrend persists, short-term targets will be in the 9275 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: 9230, 9260, 9290
Support: 9180, 9150, 9120

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