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BANKNIFTY - Index managed to hold the level of 16700 as we mentioned in last weekly report and after RBI GOVERNORS aggressive step by 50 bps rate cut we saw huge upsurge in index all the way up to 17450. We saw some hesitation by bulls at these levels but index is hovering near last two expiry levels of 17190/17215.

For coming week we are not seeing index to go below 17000 in fact it will work as a good support level.

We are continuing with our target level of 18350/ 18400 in coming weeks.

CNXMIDCAP - Index continue to face the supply level around 13000/13100 levels and demand around 12600/12700 levels with week on week higher close.

We at Team NTD is having bullish outlook for index in coming week for upside levels of 13350/13500.

Finally Index has crossed its important supply level of 5170/5200 last week. 5250/5280 will be next trigger for further upside of 5480/5500 in index.

Team NTD is continuing with its positive outlook for index in coming week with 5140/5170 of demand level.


DOW JONES: Week on week Dow Jones has managed to end in positive territory at 16472.37.As per the long term weekly charts we see Dow Jones facing stiff resistance at 16600. For the upcoming week we see  16000 to 16600 is the trading range.

Going ahead levels of 17000 will be act as supply area after Fridays jump. Any close below 16000 level we can see 15500 is the initial level.

{Oct 03,15}

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