NIFTY OUTLOOK FOR 18 & REVIEW

CAUTION @ HIGHER LEVELS....SELL ON RISE

Nifty                               7976    +43

After Two Big down days, market heaved a sigh of relief and  recovered a part of the lost ground. However, it continues to be a Sell on Rise market for short term with a stop loss of 8075(on close basis). US Fed meet outcome would influence the market direction on Thursday. Nifty spot is expected to encounter resistance at 8015, 8050 and find support at 7935, 7900 for Thursday. 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 be better in the forenoon but caution is advised at higher levels and traders may use the rise to reduce leveraged positions.