Daily BSE NSE Forecast October 13, 2017

BSE Sensex:

Expectation: Bullish or neutral

Target: 32,400

Action: Buy, with a target of 32,400

Yesterday, the BSE Sensex moved higher and closed at 32,163, thus gaining 380 points in the day’s trade. At this time, this market is still in long term bull trend phase. In the short term too, it is in bullish to neutral territory. Trend lines indicate that the 32,400 level is the immediate resistance point for this market. If this point is breached and the market closes above this level, then the near term trend will become strongly bullish and the market would move towards the 32,600 level. Currently, the trend is bullish to neutral. The next support level is at the 32,000 region. If the 32,000 support level is breached, then the near term trend would become bearish again and the 31,850 level could be tested again. Right now, you should buy with a target of 32,400.

NSE Nifty 50:

Expectation: Bullish to neutral

Target: 10,150

Action: Buy, with a target of 10,150

Yesterday, the NSE Nifty 50 too moved higher and closed at 10,098, thus gaining 126 points in the day’s trade. This market is currently in a bullish to neutral phase. Trend lines indicate that the 10,150 level is the next resistance point for this market. If this point is breached and the market closes above this level, then the trend will become strongly bullish again, further upward movement will be possible and the market would move towards the 10,250 level. Currently, you should buy with a target of 10,150. At this point in time, the 10,000 mark is the immediate support level for this market. If the market goes below this level and closes below it, then the trend will turn bearish again and further downward movement would be possible.