14 November 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 15 NOV. 2017

As predicted yesterday bears were more powerful in today’s trading session and took nifty below 10250 level. The Sensex was down 91 points at 32941, dragged by L&T, Infosys and HDFC Group stocks. The Nifty future fell 38 points to 10231. The Index future was alternately swung between positive and negative zone in intraday trade. Yet, the overall movement of market during the trading session was within a relatively narrow range. Nifty future started at 10259 made a high of 10278 and low of 10225, total 53 points was moved by Nifty future in intraday.
The index closes below 10250.This is a sign of weakness; however, unless follow on selling comes tomorrow to tilt the scales in favor of the bears, there is still not much to worry. What we need to watch out for is its ability to hold above the 10200 level if there were to be any fresh weakness in tomorrow’s session. Staying above 10225 would mean getting some gumption back, and if it were to stay above 10265 then that would be the first sign of strength. On the downside, below the 10200 level strong support exists between 10175 and 10135 levels. Major support, of course, remains between 10150 and 10100.
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Resistance: 10300, 10335, 10370
Support: 10200, 10175, 10150

1 comment:

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