Indian stock market outlook for September 26, 2013: Index Range (September Future), Bank Nifty and Sensex

For Thursday, Sept 26th 2013, the trend deciding point stands at 5815/5814, hence any fall towards this level likely to find support. If the supply/selling pressure is strong enough to breach this level, Nifty future will attract further selling and in that case its likely to slide down to 5776 and further to 5710 level. On the upside first hourly resistance is placed around 5908 level, if Nifty future manages to sustain this hourly resistance its likely to move further to 5940 to 5955 level. Tomorrow is F&O expiry, hence volatility and sharp reversal is not ruled out.

Based on the Nifty view, trading strategies:
1. Buy above hourly resistance of 5910 with stop at 5875, target of 5940-5950.
2. Sell around 5950 with stop at 5970, target 5910/5900

Index Range (September Future)
Nifty: 5888.90
Resistance: 6032-5978-5929
Support: 5826-5772-5724

Bank Nifty: 10081.70
Resistance: 10702-10511-10312
Support: 9923-9732-9533

Sensex: 19856.24
Resistance: 20341-20160-20021
Support: 19702-19520-19382

Disclaimer: Trading involves risk and please trade in your own risk.

Categories: Bank Nifty, BSE Sensex, Index Range (September Future), NSE Nifty, Today's market outlook