30 January 2018

NIFTY PREDICTION & FREE NIFTY TIPS FOR 31 JAN 2018

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"BUY 2 LOTS BANKNIFTY 27200 1 FEB PUT @ 177 TGT 215/266"
"BUY 1 LOT SBIN 350 CALL @ 3 TGT 4.4/5.5"
lacklustre market ended on a bearish note. The Sensex sank about 250 points to end at 36033 on Tuesday as investors booked profits in recent outperformers, while caution prevailed ahead of the Union Budget due later this week. The Nifty also retreated from its life highs, but managed to close above the crucial level 11000. The Sensex, after opening a shade lower at 36277, continued its slide to crack the 36000-mark and hit a low of 35993 during the day. It finally settled at 36033, down 249 points. The index had gained 232 points yesterday and closed at a record high of 36283. The Nifty too closed lower by 80 points, at 11049 after hitting a low of 11033. It had ended at a lifetime high of 11130 on Monday. Investor adopted a wait-and-watch mode ahead of the US Federal Reserve’s two-day monetary policy meeting.
Volatility could remain high in the next few trading sessions considering key events like the US Fed policy meet and Union Budget at home. The government is expected to present a balanced budget being its last full budget before general elections; however any negative surprise on the fiscal deficit target could dampen investor sentiments. We recommend remaining extremely cautious at current levels. Though traders are left with little option but to chase the momentum, this should be done with great care remaining highly selective while picking stocks. Cautious outlook is advised for the Wednesday. For the coming session, immediate resistance would be seen at 11200-1250 and a sustainable move beyond this would extend this rally. On the flipside, 11050-11000 are likely to act as strong support levels unless this zone is violated decisively, the bulls need not worry.
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Resistance: 11200, 11250, 11300
Support: 11050, 11000, 10950

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