Daily Market Out Look 23 Sep 2014

Indian equity marketrose modestly on Monday to
notch their fourth consecutive session of gains, led by blue-chips that have
under-performed recently, such as Tata Motors and Oil and Natural Gas Corp,
although the mood was broadly cautious; Finally, the BSE Sensex surged
by 116.32 points or 0.43%, to 27206.74, while the CNX Nifty gained 24.85 points
or 0.31% to 8,146.30.


Last trading
session nifty after made a gap-down start traded lackluster till afternoon
deals on the back of an uninspiring session on Wall Street post Federal Reserve
Bank President Richard Fisher’s statement that Federal Reserve should start
raising U.S. interest rates in the spring, which was earlier than expected, Finally
nifty future closed positive with gains of 27.45 Points at 8158.45 at a premium
of 12.15 points.For Now 8130 would be deciding point of nifty future for
intraday, which if Breached, and then level of 8090-8025 would be target in
intraday. Strong resistance would be seen at 8244-8310 level in intraday for
nifty once break 8199 levels. Nifty spot Crucial support now 8050 while resistance
8180. Since, support and resistance levels always meet accuracy; hence traders
are suggested to follow them for good profits.

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