Market Outlook for 23rd September, 2013

Nifty Future:

Its very difficult to trade during first two days of Settlement week beginning as lot of shifting of position happens in market. Last Friday RBI Policy spooked the market and Nifty crashed by 200 points from day’s high.

For today’s trading, it should take support around 5926 and if it closes below 5905 in EOD, then market could fill all the Gaps in the chart.  On Upside,  it could resist around 6060 and move beyond 6080, will take to 6110 – 6160

Stock Future:

Last Friday, towards market closing hours huge buying was witnessed JSW Steel and M & M . As per Market profile study, JSW Steel could move to 790 and M&M to 915.

Good Luck !!