3 January 2018

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 4 JAN 2018

Bears took the market down & closed on flat note. The Sensex closed up 1 point at 33813, while the Nifty closed on flat note at 10472. Investors are cautious ahead of key corporate results starting next week. Investors in India are awaiting corporate results, including from TCS and Infosys that are scheduled next week.  Nifty future opened at 10490 made a high of 10543 and low of 10456 & closed at 10472 total 87 points nifty future moved in intraday. The Nifty future has slipped below support level 10475 & closed at 10.472.
Going into Thursday trade, the market is poised in a tricky situation. We might see modestly positive to flat opening. Shorts are being added to the system given the fact that the support level 10450 remains in close vicinity at 10400, the market may seek to take some respite from the current spate of weakness.  On the other hand, the 10550 and 10570 levels will pose stiff resistance on the upside. We recommend avoiding shorts and keeping overall exposures moderate while keeping a cautious view on the market.
WEEKLY RESISTANCE FOR NIFTY: 10550, 10570, 10590
PIVOT POINT: 10450 
WEEKLY SUPPORT FOR NIFTY:  10425, 10420, 10400

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