19 September 2017

NIFTY PREDICTION & FREE NIFTY FUTURE TIPS FOR 20 SEP 2017

The Sensex and Nifty ended on bearish note on Tuesday as financial stocks such as HDFC dragged both sensex & nifty amid investor caution ahead of the US Federal Reserve's policy statement this week. Markets witnessed a choppy trade as investors shifted focus towards the Federal Reserve meet, beginning later in the day. The Sensex cut short it eight-day rising streak and closed lower by 21 points, to 32402. The gauge had rallied 761 points in the last eight straight sessions. The Fed is set on Wednesday to announce the start of a plan to trim its $4.5-trillion portfolio of assets, much of it amassed in response to the 2007-2009 financial collapse, marking another milestone in bringing to an end the crisis-era measures. The nifty future, which hit a record high earlier in the session, closed down by 6 points at 10169.
Going forward, we expect Nifty future to rally towards 10225-10255 and any weekly closing above 10200 will confirm that the current trend is still bullish. In the short term, 10225 level will act as resistance for Nifty future.  Overall, the outlook for nifty future remains bullish and the current technical setup suggests buy on dips. Nifty future may pause around 10225 -10255 levels for few days and may consolidate but any profit booking can be used to accumulate fresh longs with targets of 10275-10300 levels.
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Resistance: 10200, 10225, 10255
Support: 10125, 10100, 10075

1 comment:

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