14 May 2018

NIFTY OUTLOOK FOR KARNATAKA ELECTION 15 MAY 2018

The cloud of Karnataka election poll results made the market movement lackluster. Today nifty was trading above the 10800 level but ended on flat note. The Sensex was up 21 points at 35556 and the Nifty rose points 12 to 10807. All are keeping their eye on the Karnataka assembly election results which are due on Tuesday 15 may 2018.
The Nifty is likely to inch higher towards Rs 10900-11000 if the BJP win. On the way down 10690 will provide support. Overall, we have a bullish outlook on the index for the short term with a target Rs 10900 and reversal placed at Rs 10700. Tuesday  is likely to see 10850 and 10875 acting as immediate resistance area for the Nifty future. Supports will come in at 10,775 and 10725 zones. 
More about intraday tips on Google +
Resistance: 10830, 10860, 10900
Support: 10775, 10740, 10710

No comments:

Post a Comment