13 May 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 16 MAY 2016

AXISBANK 520 CALL CONTINUE TO HOLD
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 Today bulls were trapped in bear’s grip. Snapping Thursday's gains, the  BSE Sensex on Friday settled the day 300 points lower, while the broader  Nifty managed to hold above its key 7800-mark. The headline indices fell more than 1 per cent after stronger-than-expected consumer inflation data raised the prospect the Reserve Bank of India would keep interest rates on hold, sending lenders such as State Bank of India sharply lower. The Sensex and Nifty slipped over a percentage point. The BSE Sensex ended with a loss of 301 points at 25490. The BSE Sensex opened at 25740 touched an intra-day high of 25744 and low of 25400. The NSE Nifty closed with a loss of 86 points at 7815. The NSE Nifty opened at 7881 hitting a high of 7881 and low of 7784.
For Monday we are hoping for bullish momentum in the market. Bulls will try to take NSE Nifty above 7850-7900 Once in 7900 level will break out then chances will be higher for NSE Nifty to be in there most comfortable zone of 7900. Or else if any downfall will be there then 7775-7750 will act as a supporting level for NSE Nifty. At the other side if bears will take NSE Nifty below the level 7750 then again the selling pressure will increase in the market.
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RESISTANCE: 7850, 7900, 7950
SUPPORT:  7775, 7750, 7700

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