Market began the week on a positive note, indices ended
the session with half a percent gains supported by positive impetus in global
market due to weakened hurricane Irma in US and sign of melting geopolitical
tensions. Investors are also awaiting the outcome of CPI Inflation, IIP data
tomorrow for any turnaround after the disruption from GST The Nifty, managed to close above 10000. Nifty future
surpassed its immediate hurdle of 9985 zone and headed towards 10050 levels. It registered
the highest daily close in last 23 trading sessions and managed to close above
psychological 10000 mark. It formed a bullish candle on the daily chart and
supports are gradually shifting higher. Now it has to continue to hold above
9975 zone to witness an up move towards 10075 then 10100 levels while on the
downside supports are seen at 9925 then 9875 levels. It would be wise to not
throw complete caution to the wind as markets assess the possible economic
impact of hurricane Irma as it chews its way up the Florida coast.
Resistance: 10055, 10095
Support: 9950,
9915, 9875
Market began the week on a positive note, indices ended
the session with half a percent gains supported by positive impetus in global
market due to weakened hurricane Irma in US and sign of melting geopolitical
tensions. Investors are also awaiting the outcome of CPI Inflation, IIP data
tomorrow for any turnaround after the disruption from GST The Nifty, managed to close above 10000. Nifty future
surpassed its immediate hurdle of 9985 zone and headed towards 10050 levels. It registered
the highest daily close in last 23 trading sessions and managed to close above
psychological 10000 mark. It formed a bullish candle on the daily chart and
supports are gradually shifting higher. Now it has to continue to hold above
9975 zone to witness an up move towards 10075 then 10100 levels while on the
downside supports are seen at 9925 then 9875 levels. It would be wise to not
throw complete caution to the wind as markets assess the possible economic
impact of hurricane Irma as it chews its way up the Florida coast.
Support: 9950, 9915, 9875
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