19 May 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 20 MAY 2016

"SELL HINDALO FUTURE BELOW 86.40 TGT 85.90/84.30 SL 87.80"

"BUY RCOM 52.5 CALL @ 0.65 TGT 1.20/1.70"
Volatility ruled the roost. Fed rate hike is a worry not just for India but for all emerging markets and it is this uncertainty which is turning markets more volatile. Falling for a second straight day, the benchmark Sensex today plummeted by 305 points to hit over two-week low of 25399 on speculations that the US Federal Reserve may raise interest rate in June. Fears that the US central bank may resume raising interest rates in the United States as early as next month pulled global stocks lower and Indian markets followed suit. Key benchmark indices continued to languish in negative zone.
The Sensex after remaining in the positive zone briefly at the outset, slipped into the red and touched a low of 25351 before winding up 304 points or 1.19%, to close at 25399, its weakest closing since May 6.  The Sensex ended with a loss of 305 points at 25400. The Sensex opened at 25714 touched an intra-day high of 25714 and low of 25369.  The Nifty closed with a loss of 87 points at 7783. The NSE Nifty opened at 7785 hitting a high of 7876 and low of 7775.
Nifty is trading in consolidation since last week. Nifty would recover only if it breaks out of 7900 levels. Further 7965 followed by 7985 levels will act as the resistances. On the downside, if Nifty breaks below 7750 it can touch 7720 followed by 7700.
More about on Google +
RESISTANCE: 7900, 7950, 8000
SUPPORT:  7750, 7730, 7700

No comments:

Post a Comment