12 May 2014

NIFTY FUTURE OUTLOOK FOR TUESDAY 13-5-2014

After  huge swing on last Friday today market continued its uptrend. Today nifty crossed the level of 7000.. sensex also attained the record closing high of 23,000 points..market  opened at 6911 made a high of 7052 and low of 6911 and closed at the level of 7043..total 141 points throughout the day. The counting of votes will take place on Friday, 16 May 2014, and the results are expected on the same day. The term of the current Lok Sabha expires on 1 June and the new House has to be constituted by 31 May.
For tomorrow we are expecting uptrend will be continued. market will try to touch the level  7060-7080.. And if there will be any downfall then the level of 7000 will be proved as a very good supporting level. But till the Friday market will follow the uptrend due to election results..

In bank nifty also there is a huge movement. Today bank nifty started with 13838.made a high of 14260 and low of 13900 and closed at the level of 14181..total 360 points throughout the day. And for tomorrow bank nifty will try to touch the level of 14190-15030.. And if any downfall then 14000 will be proved as good supporting level.
RESISTANCE: 7050, 7070, 7090

SUPPORT:  7030, 7010, 6090

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