Wednesday, May 31, 2017

MARKET STILL IN CONSOLIDATION AND READY TO SEE A BIG MOVE ; TRADE WITH CAUTION


WEEKLY RECOMMENDATION UPDATE:

IGL hit tgt 1060 made low of 1078.90
NOW toatal profit 53790

GIVEN ON 29 MAY hit tgt 630
toatal intrady profit 36000

FOR LIVE MARKET CALLS FILL UP THE FORM GIVEN HERE>>>>>

Taking mixed cues from the Asian markets, the Nifty started the session almost on a flat note at 9,616. The Nifty remains volatile and recorded an intra-day low at 9,607 levels and an intra-day high at 9,641 levels. The contact could trade in the broad range between 9,600 and 9,630. As long as the contract trades in this range, traders should tread with caution and desist taking fresh positions. A strong breach on either side of this sideways range can give a near term direction for the contract. Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market would continue to remain strong
until Nifty holds 9580 levels. Traders can continue to hold long positions in the market as of now. If Nifty breaches levels of 9635 with volumes then next target would be 9660-9705. Now a big movement is on the cards and traders can hold long positions or buy at dips until Nifty holds 9580 levels on closing basis. Immediate support for Nifty would be seen at 9580-9540 levels and reversal would be seen only if Nifty closes below 9511 levels. For now, market is consolidating and ready to see a big movement in days to come.

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