26 May 2015

NIFTY OUTLOOK FOR WEDNESDAY, 27 MAY 2015

FOR TWO DAYS FREE TRIAL CALLS JUST FILL UP THE FORM GIVE TO YOUR RIGHT SIDE>>>>>>>>>>>>>>
Domestic equity market fell for the second consecutive trading session on Tuesday. Poor quarterly numbers coupled with strengthening of dollar and profit booking ahead of May month F&O expiry made the markets to fall. The Sensex and Nifty plunged 112 points and 30 points to 27531 and 8339, respectively, on May 26. Nifty opened at 8377 made a high of 8378 and low of 8320, total 58 points was played by nifty throughout the day.
For tomorrow the market is expected to open flat or a little down.  The range between 8375 and 8410 would be the most critical zone for the day. Once the bulls are able to hold it above this zone or at least not allow the Nifty to drift down below this range, the index and the overall market may experience fresh buying coming in or else there could be a dip again to test 8320. Till such time the bears are able to push the Nifty down below 8320, the bulls would retain their initiative to bring back the erstwhile upward momentum. On the way up, however, the levels above 8450 would also be a supply zone especially the range between 8480 and 8532—this is a potentially strong supply zone that could halt the march upward, at least for the tomorrow. 
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RESISTANCE: 8375, 8425, 8475 
SUPPORT:  8325, 8275, 8225

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