24 May 2017


"SELL NIFTY FUTURE BELOW 9380 TGT 9350/9315 SL 9420"
Bears are in action to settle down the May series expiry in negative mode. Escalating cross-border tensions with Pakistan across the Line of Control (LoC) coupled with continuing fall in midcaps pushed benchmark indices lower. The session was largely volatile, with the Sensex and nifty future shuffling between gain and loss, before finally settling in the red zone in the final two hours of the trade. The sensex closed at 30301 levels down by 63 points. Nifty future closed at 9374 levels, down by 25 points.
Pullback rally is expected in tomorrow’s expiry session. Tomorrow, a decline below 9380 is expected and also suggested to sell the Nifty future if the level matched, for the targets of 9350/9315. Going forward, the immediate support for the Nifty is placed at 9325 and 9300 levels. On the flipside, resistance is seen at 9425 and 9450 levels, but the major hurdle is in the 9375-9400 region and till such time that this region is taken out, any rally may be considered as a pull back or of corrective in nature.
More about intraday tips on Google +
Resistance: 9400, 9425, 9450
Support: 9350, 9325, 9300

No comments:

Post a Comment