DAILY NIFTY OUTLOOK, 30TH OCT,2015

Market Outlook  30 October 2015 (based on Index futures)
Nifty November futures (8114.1)(-59.5): The October series ended on a weak note as Nifty future breached the 8130 support but the last citadel of bulls, the 8100-8090 region is still holding and once this level too is taken out, fresh offloading is likely as the bears will tighten their grip. If, however, this level holds some recovery is likely and Nifty future must initially sustain decisively above 8130 and then take out the 8200 level decisively for any semblance of bullishness at this stage.. Resistance: 8130, 8155, 8170, 8200, 8220, 8255, 8280, 8300 Support: 8105, 8085, 8058, 8020, 7995, 7950, 7897-7900 --------------------------------------- Bank Nifty November Futures (17222.4) (-192.6): Bank nifty future lost further grounds and closed the October series on a weak note. End of session saw fresh offering so chances are that it may open the November series on a weak note too. 17200-17195 is the immediate and important support for now and a decisive breach of this level will see fresh offloading which may take it down to the 17000 level with some support at 17120-17100. On the higher side, 17310 is the immediate resistance but it must sustain, initially above 17356 and then above 17440, 17500, 17560 for signalling that it is on the path to recovery. Resistance: 17310, 17356, 17440, 17500, 17560, 17620, 17692-17700, 17742, 17772, 17800 Support: 17200- 17195, 17120, 17080, 17050, 17000-16990, 16920-16900, 16845, 16750 ---------------------------------------