| CMP |
5907.30
|
| Nifty Range |
5658 to 6157
|
| Pivot Point |
5853
|
| Turning Points |
5850/5965
|
| Positive Above |
5976
|
| Negative Below |
5839
|
| Bull Turning Point |
6045
|
| Bear Turning Point |
5770
|
Nifty has closed (5907.30) above Weekly Pivot Point (5853).
Nifty has immediate Resistance at 5917 and then at 5934. Nifty must cross 5946 and stay above 5956 on Closing Basis to continue its Up-move. If Nifty manages to cross and decisively close above 5967, it may go up to 5982 – 5996. Above 6010, Nifty will enter into Bull Zone and may move up to 6030 – 6046 – 6061. Further Up-move Levels will be 6082 – 6099 – 6112.
Nifty has immediate Support at 5898 and then at 5881. If Nifty breaches 5862, it may go down to 5843 – 5829. Nifty will get weak below 5817 and may go down to 5803 – 5791. Below 5772, Nifty will enter into Bear Zone and may go down to 5748 – 5733 – 5714 - 5700. Further Down-move Levels will be 5686 – 5674 – 5657.
Moving Averages
Average
|
20 Days
|
50 Days
|
100 Days
|
200 Days
|
SMA
|
5860
|
5700
|
5805
|
5841
|
EMA
|
5817
|
5764
|
5774
|
5755
|
General Out-Look
Nifty Trend looks to be Sideways. Global Cues are Mixed. Nifty may continue its Upmove if it manages to HOLD above 5946 on Closing Basis, crosses 5956 and stays above 5967. The Upmove will be up to 5982 – 5996 – 6010. On the other hand if it HOLDS below 5862, breaches 5843 and trades below 5829, it is likely to be dragged down to 5817 – 5803 – 5791 – 5772.
Factors of Concern/Major Events
1. Domestic and Global News/Cues (Especially from European and U.S. Markets).
2. Status of Rupee versus Dollar.
3. Deadline to raise the U.S. Borrowing Limit 17-10-13.
4. FOMC Meeting on 28/29th October 13.
5. RBI Monetary Policy Review on 29th October 13.
6. Corporate Results commence and Infosys Result on 11-10-13.
7. Impact of latest happenings on Political Front.
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