Market Outlook For 22-October-2014

Nifty has close above 7900. Now 7945 is the first resistance and 8000 is the second resistance for Nifty. If Nifty manages to break both these resistances by this week, then by next week be can see nifty nearing 8100. Otherwise there might also be a small correction which can take Nifty down to 7860-30 level. Due to positive news and formation of good government Nifty's momentum is likely to be bullish.