Market Outlook of 10th May, 2018.

Nifty ended on the positive note followed by IT and PVT Banks; a trading range inside 10600-10800 remained intact; may see a breakout soon from this range.

Nifty index opened flattish but managed to hold its immediate support of 10680-10690 zone and headed towards 10766.

As long as it holds above 10680, it can extend its up move towards 10800-10830-10920 while a hold below 10680 could drag it towards its major support of 10638-10600.

India VIX moved up by 1.51% to 14.27.

Bank Nifty opened negative but managed to hold above 25950 and headed towards 26200. It closed in positive for the 9th consecutive session.

As long as it holds above 25950, it can extend its move towards 26250 then 26500 while supports are seen at 26000-25950 zones.

* This material is for information purposes only and should not be construed as an offer or solicitation of an offer to buy or sell any securities.

Leave a Reply

Your email address will not be published. Required fields are marked *