NIFTY CHART & NIFTY OUTLOOK FOR TUESDAY 8 SEPTEMBER 2015

DAILY RESISTANCE FOR NIFTY: 7672, 7781, 7946, 8111

PIVOT POINT: 7616

DAILY SUPPORT FOR NIFTY :  7507, 7451, 7286,7121

DAILY CHART FOR NIFTY

The bears tightened their grip on Dalal Street as the bulls continue to run for cover. In yet other late sell-off caught investors off guard as the market ended with losses for the 6th straight session. The Sensex plunged over 300 points in trade on Monday to slip below its crucial psychological level of 25000, while Nifty cracked below its crucial support level of 7550 in the last one hour of trading. The Sensex finally closed 308 points lower, at 24893. It hit a low of 24851, and a high of 25387 in trade today. The Nifty index closed 96 points lower, at 7558. It hit a low of 7545, and a high of 7705 in trade today.

The way our markets plunged Monday after a big fall on Friday is worrisome. So, there is short- term pressure in the market, and that is quite visible. I feel that volatility will continue and there can be a short-term impact on the markets. Now breaching the support line of 7500 will invite more woes in the market while a trade above 7800 will provide a good positive remark of it.

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