Market Outlook For 17-November-2014
The market is undergoing a consolidation phase and market is expected to head higher in few more days. Due to falling crude price and reduced inflation Market is expecting RBI to cut interest rate. In case if RBI cuts the rate then there will be a huge rally. The present momentum is bullish and will remain to be bullish till the end of this year.
If Market closes below the 8280 then there may a short correction. There is very strong support near 8170 and Nifty is not expected to slip below this level.
There is a strong resistance for Nifty around 8430. If Nifty trades above this level for 2-3 trading session then Nifty can touch 8500-550-600 in next few weeks
Short Term Option Recommendation:
Buy Nifty Dec-8500-CE
Target: 150-175
StopLoss: 75
If Market closes below the 8280 then there may a short correction. There is very strong support near 8170 and Nifty is not expected to slip below this level.
There is a strong resistance for Nifty around 8430. If Nifty trades above this level for 2-3 trading session then Nifty can touch 8500-550-600 in next few weeks
Short Term Option Recommendation:
Buy Nifty Dec-8500-CE
Target: 150-175
StopLoss: 75
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