29 January 2018

NIFTY PREDICTION & FREE NIFTY TIPS FOR 30 JAN 2018

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The week has started on bullish note & ended at fresh record closing highs at 11137, though wiped out half of gains in last hour of trade. The Sensex was up 232 points at 36283 and the Nifty gained 60 points at 11130, as the government's annual economic survey predicted growth would expand in the year starting in April, making India once again the world's fastest-growing major economy. The economic survey released earlier in the day projected economic growth at 7.0-7.5 per cent in the year starting in April, up from a projected 6.75 per cent for the current fiscal year. The nifty future has opened at 11141 made a high of 11185 and low 11080.
This week we have one of the most important domestic events - the Union Budget - slated to be presented on Thursday 1 Jan 2018. The volatility is expected to be continued in the market for upcoming 2-3 days.  Nifty future today’s high of 11185 might act as immediate resistance along with the 11235 level on the upper side. Supports should come in much lower at 11000 and 10900 levels.  The Nifty has achieved its measured targets and is now expected to take a minor breather with the 11200 level acting as an immediate resistance.  Overall, though some early positive movement in the market cannot be ruled out, we might see some intermittent bouts of correction at higher levels. The broader market may see some relatively more pain in the event of any correction from higher levels. 
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Resistance: 11200, 11250, 11300
Support: 11000, 10950, 10900

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