MCXStar : Todays New Update at Best MCX Commodity Website in India. | |
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| Nifty/bank nifty New For Monday Posted: 28 Jan 2017 02:51 AM PST Nifty: Nifty Outlook Index opened flat for the day but took good upside later and hit the high of 8454 in the last hour. A positive closing was made for the day at 8442. Still the resistance of 8450 seems heated up for the index prices to break it up. Also the prices are sustaining above the support level of 8400. We expect index to break the resistance soon. Bank Nifty: Bank Nifty Outlook Banking index opened red today by taking a dip in the first hour but a small recovery took place and brought the prices same to the opening levels, well closing was marked at 19150. Now 19230 had became a main resistance which will give a good breakout for new buying and some new high as well. Nifty Trends R1 8490 R2 8550 S1 8375 S2 8300 Technical Outlook: Nifty Day Performance Open 8,400.00 High 8,434.00 Low 8,352.20 Close 8362.65 Top Gainers GAIL 464.95 IDEA 69.40 BPCL 674.00 TATAMTRDVR 337.20 Top... |
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| NIFTY/BANK NIFTY AND FUTURE OUTLOOK Posted: 28 Jan 2017 01:38 AM PST Nifty Outlook :- It was a remarkable week as the Nifty index posted gains on all the four trading sessions of the week. The robust market breadth indicates broad market participation with all the sectoral indices ending the week in positive territory. Technically, we witnessed a positive crossover of '5 EMA' and '20 EMA' on weekly chart, indicating strength in the index. Thus, the ongoing uptrend in the indices could continue further towards 8737 and 8820 in near term. However, citing the 'Union Budget 2017-2018' which is scheduled to be announced on 1st February, there could be increased volatility during the forthcoming week. Hence, all must advise their clients to trade with proper risk management strategies on their trading positions. During a strong momentum phase in the index, corrective dips are generally bought into and thus, any correction in the index due to the volatility would be a buying opportunity. Therefore, traders should trade with positive bias and avoid creating short positions in the corrective phases of uptrend. On the lower... |
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