CALL FOR TOMORROW :-
"Buy DLF 200 Call @2.65 Tgt 3.80/4.90 Sl 1.20"
NIFTY FUTURE OUTLOOK FOR TOMORROW
After the election results of Friday, Indian stocks edged
higher today with the market sentiment boosted by Narendra Modi's comments in
his victory speeches in Gujarat on Friday, 16 May 2014, where he stressed on
the country's development and good governance. Sensex and nifty future attained
record closing high. Today sensex opened at 24340. And closed at
24363 points, a rise of 241 points throughout the day.And nifty future today
opened at 7244 made a high of 7323 and low of 7216 and closed at the level of
7279. Today 107 points was played by nifty throughout the day.
The last Friday was marked by high volatility and the indices closed in the bottom quartile of the day’s range. In fact, the Nifty even filled up the morning gap, and at one point in late afternoon it was threatening to move into negative territory. It was a day of record volume. Hence, we tend to think we have seen an intermediate top in the last session. While we do not rule out another attempt at a rally bit we would strongly suggest booking profits in all speculative long positions on any rally and if it fails to sustain above 7250 then you can even consider short selling this market.
Now for Tuesday we are expecting that market will be in the uptrend .. the new level of nifty will be 7290-7320 and if any
downfall then 7260-7240 will be proved as very good supporting levels..The last Friday was marked by high volatility and the indices closed in the bottom quartile of the day’s range. In fact, the Nifty even filled up the morning gap, and at one point in late afternoon it was threatening to move into negative territory. It was a day of record volume. Hence, we tend to think we have seen an intermediate top in the last session. While we do not rule out another attempt at a rally bit we would strongly suggest booking profits in all speculative long positions on any rally and if it fails to sustain above 7250 then you can even consider short selling this market.
while the market that may not be too strong for the
banking sector unlike others. today bank nifty opened at 15117 made a high of 15980
and low of 15108 and closed at the level of 15296.total 872 points throughout
the day. The Bank Nifty is vulnerable to fresh selling pressure. Thus, sell on
rallies-either you book profits or take short positions-would be the most
sensible approach in the near term.
zone. The upward target for this move would
be 7242.
RESISTANCE:
7290, 7320, 7350
SUPPORT: 7260, 7230, 7200
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