28 May 2014

NIFTY FUTURE OUTLOOK FOR THURSDAY 29-MAY-2014

Today lackluster movement was there in the market. Today market was completely flat.  Market was opened at 7322 made a high of 7344 and low of 7303 and closed at 7337 total 41 points was played by nifty today. For tomorrow some movement we are expecting due to expiry of F&o segment. As traders roll over positions in the futures & options (F&O) segment from the near month May 2014 series to June 2014 series. The near month May 2014 derivatives contract expires tomorrow, 29 May 2014.
For tomorrow expected levels for nifty will be 7270-7320. And if any downfall  then supporting level will be 7250.we continue to expect a broad range bound trading activity panning out for today and tomorrow but that could well turn out to be so much of sound and fury signifying nothing.
Chances are we would have to deal with another limited scale gyrations filled pro. Today, being the penultimate day of the May series of equity derivatives, we don’t feel we would see any major fireworks either here or in the Nifty. The important levels to watch out remain the same as it was yesterday; however, we tend to think that it is not falling below 14900 or not to be able to get past 14285 decisively.
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RESISTANCE: 7270, 7290, 7310
SUPPORT:  7250, 7230, 7210

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