MARKET OUTLOOK

Dear all,

Spot Nifty managed to open above 4760 and is holding for the first 15 mins. Holding above the same will take the index gradually to 4930 - 5030, with the first resistance at 4830. However, we need to wait for the first half of the day for the confirmation of nifty holding above 4760, in such case we suggest traders to close all their shorts and build up long positions for trading, with the stop loss of 4760 on closing basis. 

Bank Nifty is holding to the levels of 8650 and above the same the index can try testing 9300 levels. 

We expect Banks, Metals and Mid caps to show good performance in the short pull back rally. 

Thanks and Regards 
 
Rohit Saxena

Phone No: 09899365905
Mail Id: simmi9sep@gmail.com

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