Daily BSE NSE Forecast September 12, 2017
Expectation: Bullish or neutral
Action: Buy, with a target of 31,950
Yesterday, the BSE Sensex moved up and closed at 31,889, thus gaining 202 points in the day’s trade. At this time, this market is still in long term bull trend phase. In the short term, it has now again entered bullish to neutral territory. Trend lines indicate that the 31,950 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 again become strongly bullish and the market would move towards the 32,100 level. Currently, the trend is bullish to neutral. The next support level is at the 31,850 region. If the 31,850 support level is breached, then the near term trend would become strongly bearish again and the 31,600 level (which is a strong support) could be tested again. Right now, you should buy with a target of 31,950.
NSE Nifty 50:
Expectation: Bullish to neutral
Action: Buy, with a target of 10,100
Yesterday, the NSE Nifty 50 moved up and closed at 10,007, thus gaining 73 points in the day’s trade. This market is currently in a bullish to neutral phase. Trend lines indicate that the 10,100 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 10,200 level. Currently, you should buy with a target of 10,100. At this point in time, the 9950 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 strongly bearish again and further downward movement would be possible.