28 August 2018

NIFTY PREDICTION & FREE NIFTY FUTURE TIPS FOR 29 AUG 2018

WHATSAPP ON 9039542248 TO GET LIVE FUTURE/OPTION CALLS
"BUY TATASTEEL FUTURE ABOVE  590 TGT 594/599 SL 584"
"SELL IDEA FUTURE BELOW 50.50 TGT 49.80/49 SL 51.45"
Bulls continued to rule on dalal street. The Sensex and Nifty scaled fresh peaks in early trade on Wednesday 28 aug 2018 & took nifty above 11750 mark. sensex closes shy of 38900 level, Nifty ends above 11750 for first time. Majority of the macro factors are in favor, the results that came out this quarter were in line with expectations. The likes of IT and Pharma are doing well now, thanks to the dollar. Asian shares advanced today amid hopes global tariff tensions were abating as the US and Mexico made a deal to overhaul the North American Free Trade Agreement (NAFTA). Most of the European markets were higher today. Investors expect Canada too would agree to the new terms to preserve a three-nation pact, ultimately dispelling the economic uncertainty caused by US President Donald Trump’s repeated threats to ditch the 1994 NAFTA accord.
A large bullish candle on the daily chart is signalling confidence and the index may do well in the rest of the expiry week. Investors will keep an eye on US economic data with consumer confidence figures due later in the day and the latest estimate for second-quarter gross domestic product expected on Wednesday. We reiterate our bullish view on markets and suggest keeping “buy on dips” approach in Nifty future, till it holds above 11700 mark. Nifty future has already surged yet to a new high now with daily trends also turning positive. The support for the day is seen at 11700/11635 while resistance is seen at 11800/11850.
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Resistance: 11780, 11815, 11845
Support: 11700, 11635, 11600

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