10 May 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 11 MAY 2017


"BUY BANKNIFTY ABOVE 22820 TGT 22880/22950 SL 22760"
As yesterday we have predicted the level of 9400 as the psychological resistance for Nifty. However, in line with the street expectations, the Nifty has touched the level of 9400 in closing hours of today’s trading session & closed above 9400 mark. Today, Nifty made a new all-time high of 9414 points. The Sensex has touched its all-time high of 30233 level. Both the indices also closed at record highs, with the Nifty ending the day at 9410 points while Sensex ending at 30248 points. The rally was boosted on the back of better than forecast monsoon rains.
Tomorrow, we might see a quiet opening once again and we see no triggers, technical or otherwise, that can cause any runway rise in the market.  With the 9450 and 9480 levels acting as immediate resistance levels, supports will come in at 9350 and 9310 levels. 
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Resistance: 9450, 9470, 9495
Support: 9180, 9150, 9120

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