NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 29 SEP 2020

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Strong global cues lead Indian market higher on the 1st day of the week. Market ended higher for the second day in a row on September 28 on the back of buying seen across the sectors. At close, the Sensex was up 593 points at 37981, and the Nifty was up 177 points at 11227. In last two days, market recovered 50% of losses seen in previous 6 sessions.

The markets kept the upward momentum on for the entire day & we expect it to continue in the coming session. However, the level to watch out for nifty is 11250-11300. We need to get past and close above that price zone. That would signal that an intermediate bottom has been made and we have entered into an uptrend. Until then, there is always a possibility of a U-turn from the current levels and the Nifty might attempt to go and test the 11000 level.

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Resistance: 11250, 11300, 11350

Support: 11200, 11150, 11100