Daily BSE NSE Forecast September 18, 2017
Expectation: Bullish or neutral
Action: Buy, with a target of 32,350
On Friday, the BSE Sensex moved up and closed at 32,253 thus gaining 12 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 32,350 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 32,500 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 31,900 level could be tested again. Right now, you should buy with a target of 32,350.
NSE Nifty 50:
Expectation: Bullish to neutral
Action: Buy, with a target of 10,150
On Friday, the NSE Nifty 50 ended flat and closed at 10,085, thus losing 1 point 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 10,200 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.