Nifty Fut (Oct): Need To Sustain Above 8200-8250 Zone For 8400-8675; Otherwise Can Consolidate A Bit Up To 7850-7690

Forthcoming Bihar Election, GST Passage & Q2FY16 Result Might Be The Next Triggers/Laggards

SGX NF: 8170 (CMP)

NSE NF: 8162 (LTP)

Trading Levels: NSE-NF

SL (+/-) 10 POINTS	FROM SLR
Intraday Swing	Trader
		T1	T2	T3	T4	T5	SLR
Strong > 8205		8233-50*	8302-77	8405-30*	8500-50	8600-75*	<8185
Weak < 8185		8150-100*	8050-8000	7760-7690	7670-30	7574-40	>8205
Conservative	Positional	Trader
		T1	T2	T3	T4	T5	SLR
Strong > 8205		8250*	8377	8430*	8550	8675*	<8185
Weak < 8185		8100*	8000	7690*	7630	7540*	>8205

After surprised RBI cut of 0.50%, all eyes are now on the Govt for their part. Our Govt is already showing various proactive measures/initiatives for reforms, which need not take parliamentary legislation and as a result of both, "Rajan Rally" extends to around 6% in six days.

Now, looking forward, 8200-8250 is a strong technical hurdle area and NF will need some triggers in the form of forthcoming Bihar elections (good result for BJP), possible GST passage and improved Q2FY16 result. We need at least 15-20% sustainable growth in EPS (YOY) for our market to scale 8675-9200 by Dec'15-March'16.

Otherwise, expect some consolidation till 7690 and buy on dips approach might work good as depressed commodity prices, lower interest rate environment and better operating leverages for corporate India may result in better earnings as widely expected by FY-17. 

Globally, all eyes will be on BOJ announcement shortly and be sure,  there will be no dearth of liquidity in the days ahead !!. All major central banks will continue their accommodative policy and monetary stimulus.

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