NIFTY OUTLOOK & FREE HINDUNILVR TIPS FOR 16 JAN 2018

"SELL HINDUNILVR FUTURE BELOW 1370 TGT 1362.50/1356 SL 1378

BUY HINDUNILVR  FUTURE ABOVE 1379 TGT 1384/1394 SL 1365"

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Continuing their record-breaking run, bulls hit new fresh record highs on Monday & took nifty above 10750 mark for the first time history of Indian stock market. Nifty future started from 10720 made a high of 10774 and low of 10711 & finally closed at 10743. Investors cheered strong IIP numbers that rose to 25 month high of 8.4% in November. Moreover, inflation as measured by WPI eased to 3.58 per cent in December 2017, compared to 3.93 per cent in November 2017.

It seems that markets are enjoying their merry days and are in no hurry to provide a much awaited correction. For the coming session, immediate resistance would be seen at 10800-10850 and a sustainable move beyond this would extend this rally. On the flipside, 10675-10600 are likely to act as strong support levels unless this zone is violated decisively, the bulls need not worry.

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Resistance: 10800, 10850, 10900

Support: 10700, 10650, 10600