NIFTY OUTLOOK FOR 01 & REVIEW

MID SESSION SUBDUED

Nifty                               7965  +6

While Nifty closed flat for the day. It  traded in a zigzag manner breaching Monday’s Low and high level. Weak sectors such as Realty, Infra and PSU Bank closed further weak  Broader market too was weak with negative Advance Decline ratio.  Nifty spot is expected to encounter resistance at 8005,, 8040 and find support at 7925, 7890 for Wednesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to trade in a zigzag manner with subdued midsession. As market reopens only on 7^th October after a holiday of 5 days, unwinding of short term positions / profit booking could be witnessed.