NIFTY OUTLOOK & FREE NIFTY TIPS FOR 18 MAY 2018

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The benchmark stock indices today opened on a positive note after BJP’s B. S. Yeddyurappa was sworn-in as the chief minister of Karnataka but indices came down   extended losses in late trade, with the Sensex falling 277.02 points to 35,110.86 and the Nifty declining 74 points to 10,667.10. BSE Sensex closed 238.76 points lower at 35149, while the Nifty 50 ended 68 points down at 10693.

We are likely to see a negative opening on Friday and today’s low and its range would be an important support to watch out for. The zones of 10650 -10750 would be immediate levels wherein the Nifty might consolidate again. Thursday will see the levels of 10775 and 10825 acting as immediate resistance. Supports will come in at 10675 and 10635. Overall, though we can expect some stability to come in, volatility is still likely to remain very much ingrained in the session. Though any structural breakdown may not happen, still oscillations within a given range are likely to remain volatile.
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Resistance: 10800, 10850, 10900

Support: 10675, 10650, 10600