Wednesday, May 24, 2017

MARKET OUT LOOK 24TH MAY 2017

As market in short term trend change from bullish to bearish and heavy selling seen in early trade but some also recovery in the market resulted market closed with negative bias.  Now short term trend is down and fresh long should be avoid and exit long and profit booking is a best way.   Laggard  sector likely  IT looks good and some more up side in coming days.
Nifty  : consider support 9360   9370  break down  this level be prepare for further correction in the market, higher level resistance 9450   9500 watch out.  Trading above looks change indirection in the market.
Bank Nifty   :    Consider resistance 22700 to 22800 and over all selling seen in the banking sector. Now consider support 22500  break down this level more selling in the market.
Long side
HCL Tech, ICICI bank, wipro, Tech Mahindra and Maruti
Long exit :
Idea, Sunpharma, wockhard, DCB, India cement, OBC  Union bank
Short covering :
Ceat Ltd, VEDL, TISCO,
Short side :
Adani Ports, Bharti Infra tel  B harti Air tel, SRF, HDFC

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