Thursday, May 25, 2017

Market out look for 25th May 2016

Market turned bearish from the bullish and almost closed below 9370  now some more selling pressure in the market likely continue.   Banking stocks also looking weak as well as Pharma and Metal.  However, IT stock showing some strength against the market.   Short term trend is down and do not try to long side.  However, do not worry about LOC and best time to sharp decline to buy side.
Nifty  : consider resistance 9400   9430 range and support 9285  break this level more down side towards 9267. 
Bank Nifty  :   also some selling pressure at higher level and support broken on intra  day basis, we may consider 22500  22400  support and resistance at 22900 – 23000  in near term. 

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