Sunday 16 October 2016

Update on Nifty , Bank Nifty Levels and Technical Pick 17 - Oct - 2016


NIFTY






Nifty Support at 8540 and Resistance at 8850

Break and sustain below 8540 will take it to 8450--8400 mark else could test its resistance level of 8850.

Further upside rally will see only close above 8850.







BANK NIFTY







Bank Nifty Support at 18870--18850 and Resistance at 19300.

Break and sustain below 18870 will take it io 18600---18350 mark else could test its resistance level of  19300.

Further upside rally will see only close above  19300.





TECHNICAL PICK



 
On Friday we have seen 7.5 % Jump in L&T HF ,


Now what to expect ??

Support at 90 and Resistance at 100

Above 100 will see sharp upside rally till 115--120 mark in days to come.

Looks weak below 90,


Trading recommendation - Buy above 100 

Stop loss 90 

Target 115--120+

Lot Size - 9000







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