Wednesday, May 24, 2017

YESTERDAY’S RECOMMENDATION UPDATE:

GLENMARK hit tgt 635 made low of 627.75

toatal intraday profit 31150 in just 2 LOT


NIFTY Support: 9370-9336-9300

NIFTY Resistance: 9400-9450-9480-9500

market breadth, indicating overall TREND of market, remained negative

Technically, Indian Stock Market, including Nifty, Sensex and BankNifty are still in negative zone. We are into F&O Expiry week and we would see huge volatility ahead of F&O Expiry. Nifty has already breached its immediate support of 9380 levels. Some bounce can be seen from current levels but once Nifty breaches the levels of 9350, we would see some further downfall towards 9336-9300 levels. BankNifty possess some immediate support at 22500, breaching which, we would see some further slide in BankNifty. Overall, market is choppy and traders can go short at rally in the market. The downfall would not be very Deep, so keep booking profits continuously during the downside.

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