13 May 2014

NIFTY FUTURE OUTLOOK FOR 14-MAY-2014

Market witnessed intraday volatility today. Two successive triple digit gains in a row a phenomenon we have not seen for a long time. Such occurrences had been there for the Bank Nifty many times in the recent past but hardly even one for the Nifty. Today The Sensex hit the record high above 24,000 levels. And nifty future also played 124 points throughout the day. Today nifty started with 7121. Made a high of 7203 and low of 7078. Today Nifty closed at the level of 7135. It was as if the market correctly anticipated what the exit polls now suggest as the possible outcome of the recent parliamentary polls. Expecting a favorable mandate and a strong government at the center.
The market surged amid initial volatility after exit polls on Monday, 12 May 2014, signaled that the Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) would win a majority in the Lok Sabha elections which concluded on Monday, 12 May 2014.yesterday Market crossed the level of 7000.. and now market following upward direction. So for tomorrow we are expecting new highs from the market. Tomorrow nifty will try to touch the level of  7150-7200. If any downfall then 7000 will be proved as very good supporting level.
Today bank nifty started with 14350 made a high of 14488 and low of 14160 and closed at the level of  14257.total 328 points throughout the day.for tomorrow bank nifty will try to touch the level of  14320-14350 if any downfall will be there then 14000 will be proved as very good supporting level...
RESISTANCE: 7160, 7180, 7200
SUPPORT:  7140, 7120, 7100
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