MARKET VIEW MAY 30,2017
Nifty opened with negative bias and touched a low of 9543 before recovering and reaching 9640 level. Finally ended at 9609. Above 9600 boosting the market sentiment.
Bank Nifty future saw a high of 23380 but could not retain gains and touched 23102 during intra day move and finally closed around 23131, very near to the day low indicating a negative trend.
Both the indexes are likely to be sideways for another day before taking a cue for a big leap.
Nifty technical
9621 act as a tough resistance. Next immediate target for Nifty future is 9715. Support seen at 9602-9565-9522-9496. 9469 is a trend deciding line.
Bank Nifty technical:
23258-23320-418 are resistances while 23100-23061-23000-22901 act as supports. 22881 is the trend deciding line. Chances are bright for BNF to revisit 22900 before moving towards 23500.
If BNF closes below 22900 it may lead to 22800-600. Close above 23300 will take BNF to 23500-800-24100.
Nifty opened with negative bias and touched a low of 9543 before recovering and reaching 9640 level. Finally ended at 9609. Above 9600 boosting the market sentiment.
Bank Nifty future saw a high of 23380 but could not retain gains and touched 23102 during intra day move and finally closed around 23131, very near to the day low indicating a negative trend.
Both the indexes are likely to be sideways for another day before taking a cue for a big leap.
Nifty technical
9621 act as a tough resistance. Next immediate target for Nifty future is 9715. Support seen at 9602-9565-9522-9496. 9469 is a trend deciding line.
Bank Nifty technical:
23258-23320-418 are resistances while 23100-23061-23000-22901 act as supports. 22881 is the trend deciding line. Chances are bright for BNF to revisit 22900 before moving towards 23500.
If BNF closes below 22900 it may lead to 22800-600. Close above 23300 will take BNF to 23500-800-24100.
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