20 May 2014

NIFTY FUTURE OUTLOOK FOR WEDNESDAY 21 MAY 2014

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Today Volatility ruled in the market. Today market alternately moved between positive and negative zone near the flat line in afternoon trade. High volatility was seen in late trade as the market once again slipped into the red after regaining in green side.
Today Sensex started at 24423.. made a high of 24525 and low of 24300 and closed at the level of 24376..total 225 points attended by sensex today.
Today nifty future started at level of 7304.made a high of 7347 and low of 7267.and closed at 7300.today nifty moved total 80 points throughout the day. So long as the Nifty remains above 7147 - 7205 range. there is not much to be anxious about for the bulls. what we have seen yesterday is a classic example of rotational buying.
The heroes of last Friday had been the large cap stocks that propelled the Nifty to a lifetime high of 7563 while mid and small cap showed only muted participation. Yesterday, it was the day of mid and small cap stocks. While we remain bullish for the medium to long term scenario, we reiterate in our understanding we are headed for a correction sooner than later.. now for tomorrow also we are expecting that market will move towards upside and the new level for the market will be 7320-7350.. and at the other side 7280 will be proved as very good supporting level.
And today Bank nifty started at 15375 made a high of 15444 and low of 15171 and closed at the level of 15202 ..total 273 points throughout the day ..For tomorrow the level for bank nifty will be 15250-15300. At the other side the 15000 will be proved as very good supporting level
RESISTANCE: 7320, 7340, 7360
SUPPORT:  7300, 7280, 7260

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