26 September 2017

NIFTY OUTLOOK & FREE NIFTY TIPS 27 SEP 2017

The Indian stock market once again had a disappointing session on Tuesday as the Nifty50 continued its decline and ended flat at level 9871. Nifty had lost almost 300 points in first two session of this expiry week. Market extended the weakness into a sixth straight session today , but behind the optics of bear grip there was a strong claw back bid through the day, which helped the Nifty future rebound from a 22-point loss to end flat at 9856. Nifty future has started today’s trading session at 9861 made a high of 9904 & low of 9825. Overall 79 points movement was there in intraday nifty future.
Today’s corrective move has been of a technical nature. If some critical levels are not maintained, the weakness may persist in the market in Wednesday's session also. We expect Nifty to see a quiet start on Wednesday, but level 9800 will be important, not just for the immediate short term but also for the medium term. All we can say is the primary trend is getting disrupted temporarily and we expect the market to remain more stock-specific with the 10188 level acting as the intermediate top. On Tuesday, the 9925 and 9955 levels will play out as immediate resistance for the Nifty future, while supports will come in lower at 9815 and 9775 levels. 
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Resistance: 9995, 10025, 10055
Support: 9885, 9855, 9825

1 comment:

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