NIFTY & BANKNIFTY OUTLOOK & FREE TIPS FOR 21 SEP 2017

Much on the expected lines, the market did not see any runaway rise despite a buoyant session two day’s before. The market on Wednesday saw the index oscillate in a 26-point range, while it ended flat with negligible loss of 0.15%. Nifty future opened at 10170 made a high of 10181 and low of 10155 & closed 10169. On Thursday, we expect the market to continue consolidating and struggle to clear the immediate resistance zone between 10185 and 10200. Even if it does manage to mark new highs, it will continue to remain vulnerable to bouts of volatile profit taking at higher levels. Going forward, we will see more stock-specific movement then a general trend. The 10200 and 10225 levels will continue to pose immediate resistance to the index. Support will come in at 10125 and 10075 levels. 

BANKNIFTY STILL IN POSITIVE MOMENTUM, HOLD LONG WITH STRICT SL 24800 Technically, Indian Stock Market is still in positive zone but. Some profit booking can’t be ruled out at this point of time. Market would wait for fed policy decision awaited .then would see some correction before resuming the positive rally. Market would be considered weak below 24800 levels for bank Nifty. Indian Stock Market would see reversal if bank Nifty closes below 24800 levels. Overall, Indian Stock Market is strong for mid to long-term and Investors can go long at every dip in the market. Bank Nifty may see some further temporary correction but traders should initiate short only below 24800 levels for Bank Nifty and until then, every downfall is an opportunity to go long in the Bank Nifty. if it managed to close above 25100 levels.after breaching levels of 25100 for bankNifty would force it to move towards 25200-25350-25450 levels.

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Resistance: 10200, 10225, 10250

Support: 10125, 10100, 10075