Monday, May 29, 2017

Market outlook for 29th may

After break out from 9450 of Nifty finally it was made a high nearly 9600 and strong momentum in the market continue .  Over all trend is bullish and chart indicate that in coming days we are going to nearly 10000 mark due to excellent result of corporate segment except some segment like Pharma ,  and PVT banking stocks playing a great role along with Nifty.
Nifty  : Time being 9500 made a decent support and hold above we are towards 9650-9700 mark in coming days.  Any decline to buyside.
Bank Nifty  : excellent break out given at 22900 and made a high 23320 now ultimate target 24000 + in coming days.
PSU Bank stocks :   Ready to participate with private sector bank and heavy short covering on the card in front line stocks like SBI, PNB, BOB, UNION BANK, OBC AND CAN BANK.
Some stocks to be watch out :
Long side :  BERGER PAINTS, OBC, BOI, HINDALCO AND BHEL
Short Covering  : Ashok Leyland
Short build up  : Sun pharma, REC, IOC AND BRITIANA

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