Nifty Index Daily Outlook: 19.05.2014
As written in our Daily Outlook, on Friday 16.05.14, Nifty Index faced a strong hurdle at 7455, though it made 7563.50 as a high, it unable to sustain above 7455, further a sharp profit booking dragged till 7130 and closed positively at 7203.
We expect on Monday 19.05.14, the D-day of the Indian Politics is over now, it will become a history. Nifty may try to open at high level around 7230-7245 band, further rally beyond 7245 may take Nifty Index to 7260-7272-7295-7325 levels. On the other hand 7185-7163 may hold the Index, any weakness below 7163 may drag Nifty to 7145-7130-7103-7080 levels.
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Nifty Index Daily Outlook: 16.05.2014
As written in our Daily Outlook, to-day 15.05.14, Nifty Index faced a strong hurdle at our level of 7142 though it made a high of 7152.55 but unable to sustain above 7142, the weakness dragged till 7082.55 and not broken the inside day low level and closed positively at 7123.15 with hope to move further above 7172 on tomorrow. We expect on Friday 16.05.14, the D-day of the Indian Politics made so many guess and anxieties among the traders, whether Nifty Index will surpass 7172 or break below 7080-7067. Our Expectation on opening move Nifty got the potential to test 7055-7035-7015 levels and Put-Call Ratio(PCR) suggest that 7000 is good supporting zone, if the leading trend is not in NDA favour Nifty will test 6870-6840-6772 levels, further weakness below 6772 may drag the Index to 6700-6638 levels. On the other hand, Nifty may test 7147-7175 band, further good news from leading position may take the Nifty to 7203-7217-7248-7325-7455 levels, this is possible only if NDA gets 275+ seats.
