9 May 2018

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 10 MAY 2018

NIFTY FUTURE CALL GIVEN YESTERDAY HAS ACHIEVED ALL THE TGT…!!!!
Wednesday’s rangebound trading session ended on bullish note. The markets ended higher despite weakness in their Asian counterparts. The Sensex gained 103 points to close at 35319 levels, while the Nifty future settled at 10769 levels. It has opened at 10715 made a high of 10787 and low of 10712.  Nifty has given a pullback from the low of 10712 levels but has shown resistance near around 10800 levels. On the downside, we maintain the level of 10650 as a strong support and at the higher end, we anticipate 10850 level would be crucial and a breakout above that level would find the index in a new territory for more upside movement. However, the support for the day is seen at 10635 while resistance is seen at 10825.
Nifty5 may continue to trade in the range of 10800 to 10700 for next couple of days. Any upside breakout of 10850 on a closing basis will give us further direction and higher levels of 10900. Traders and investors are suggested to have positions being hedged since the increase in volatility is expected ahead of the event.
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Resistance: 10800, 10850, 10900
Support: 10700, 10650, 10600

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