22 May 2015

NIFTY OUTLOOK FOR MONDAY 25-MAY-2015

CALLS GIVEN ON 21 MAY 2015
This week, we saw markets edging higher on rate cut hopes despite volatility brought by Q4 results of heavyweights.  The stock markets closed at their 4-week highs, with the benchmark Sensex ending the day with gains of 148 points. The Nifty, too added 38 points to finish off at 8459, as investors appear to be buying equities on comfort that the RBI may ease rates in June, while the US Federal Reserve may not raise rates any time soon. The markets today opened with a positive and remained positive without much movement due to decline in India VIX, which is down at around 2.67% indicates stable outlook ahead of F&O expiry next week. The Sensex today closed 148 points up at 27957 after briefly staying above the psychological 28K-level on better-than-estimated corporate earnings and firm Asian cues. The Nifty was at 8421, up 7 points. It touched a high of 8440 and a low of 8420 in trade today. Nifty rallied to a high of 8489, just ten points shy from 8500-mark, before settling at 8458. Such volatility is likely to continue as about 40% of Sensex constituent’s results are awaited. This might impact the pace of Index moving to higher levels as the result expectation balance 40% are low.
The level of 8500 for the Nifty takes a critical importance for staying above the level would imply a retained gumption in bullish momentum. However, if there were to be a sustained campaign below this level even if the index does not go down much but spends a significant amount of time below this level and tries to penetrate even 8400 that would be first sign of weakness in this current short term upswing. On the other hand, if the Nifty were to fire on all cylinders and takes out 8530 through 8550 range bulls would be tap dancing on the center stage.
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RESISTANCE: 8500, 8550, 8600
SUPPORT:  8450, 8400, 8350

3 comments:

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    1. Thank u ayushi sharma for option tips u may visit option

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  2. Today awesome results of dish TV , also market was down. Thanks for the updates about the nifty.
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