4 October 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 05 OCT 2017

"BUY RELIANCE FUTURE ABOVE 826 TGT 831/838"
"SELL BANKNIFTY FUTURE BELOW 24150 TGT 24094/24000 SL 24212 "
Market ended the session on a positive note, but trimmed some of its post-policy gains, while the Nifty managed to end above 9920-mark. The Reserve Bank of India (RBI) on Wednesday kept interest rates unchanged. The six-member Monetary Policy Committee (MPC) kept the repurchase rate—the rate at which the central bank infuses liquidity in the banking system—unchanged at 6.00%.The Sensex closed up 174 points at 31671, while the Nifty future gained 76 points at 9944.  All 15 economists surveyed by Mint expected the MPC to keep the repo rate unchanged at 6%. Nifty future opened at 9866 made a high of 9954 and low of 9860.
Nifty future still continues to trade comfortably in the upward rising channel where it has been trading over the past couple of months. There is no structural trigger that points towards any major movement on either side. The 10025 and 10055 levels will play out as likely resistance on Tuesday. Supports should come in at 9835 and 9775 levels. 
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Resistance: 9995, 10025, 10055
Support: 9835, 9775, 9750

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