3 May 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 4 MAY 2017

DCB BANK FUTURE NOT EXECUTED
Market ended on a negative, with the Nifty holding on to its 9300-mark  as investors pondered over the chances of another rise in interest rates next month ahead of the US Federal Reserve's policy outcome due later in the day.  The Sensex settled the day at 29894, down 26 points. The NSE Nifty closed at 9311, down 2 points. Despite better-than-expected quarterly results, the market is consolidating as investors awaited US Fed’s policy outcome later today. Fed is expected to hold interest rate as it may wait for more signs of stability in the economy to hinge for further hike. Stock-specific movement encouraged the market participants to gain faith in every consolidation which continues to provide positive support to the market.
Short-term outlook for the market remains positive till Nifty trades above 9200 levels and is expecting target of 9355 levels in short term. 9200- 9150 levels in strong support & Resistance levels respectively on nifty based on derivative option open interest data for current month series. Any kind of short term correction or consolidation is buying opportunity for medium to long term investor. One can expect higher levels targets in medium to long term.
More about intraday tips on Google +
Resistance: 9350, 9370, 9400
Support: 9280, 9250, 9200

No comments:

Post a Comment