Nifty Out-Look 14-10-13 to 18-10-13 (Spot Levels)

 

CMP	6096.20
Nifty Range	5874 to 6313
Pivot Point	6010
Turning Points	6032/6161
Positive Above	6174
Negative Below	6019
Bull Turning Point	6251
Bear Turning Point	5941

Nifty has closed (6096.20) above Weekly Pivot Point (6010).

Nifty has immediate Resistance at 6112 and then at 6127. Nifty must cross 6138 and stay above 6156 on Closing Basis to continue its Up-move. If Nifty manages to cross and decisively close above 6175, it may go up to 6189 – 6208. Above 6230, Nifty will enter into Bull Zone and may move up to 6245 – 6267. Further Up-move Levels will be 6285 – 6311 – 6337.

Nifty has immediate Support at 6076 and then at 6056. If Nifty breaches 6046, it may go down to 6025 – 6008. Nifty will get weak below 5991 and may go down to 5970 – 5956. Below 5934, Nifty will enter into Bear Zone and may go down to 5917 – 5903 – 5889. Further Down-move Levels will be 5872 – 5858 – 5841.

Moving Averages

Average	20 Days	50 Days	100 Days	200 Days
SMA	5912	5705	5798	5843
EMA	5891	5807	5795	5767

General Out-Look

Nifty Trend looks to be Positive. Global Cues are Positive. Nifty may continue its Upmove if it manages to HOLD above 6138 on Closing Basis, crosses 6156 and stays above 6175. The Upmove will be up to 6189 – 6208 – 6230. On the other hand if it HOLDS below 6046, breaches 6025 and trades below 6008, it is likely to be dragged down to 5991 – 5970 – 5956 – 5934.  

Factors of Concern/Major Events

1. This Week has 4 Working Days. Wednesday, 16-10-13 will be Holiday on account of Bakri Eid.

2. Domestic and Global News/Cues (Especially from European and U.S. Markets).

3. Status of Rupee versus Dollar.

4. Deadline to raise the U.S. Borrowing Limit 17-10-13.

5. FOMC Meeting on 28/29^th October 13.

6. RBI Monetary Policy Review on 29^th October 13.

7. Corporate Results commence and Reliance Result on 14-10-13.

8. Impact of latest happenings on Political Front.

  

Courtesy- Vilas Havanur