Mutual Funds News and Latest Updated

Market Outlook of 17th May, 2018.

GFS Wealth Creators Suggestion and View on Indices.

Nifty ended below 10800 as uncertainty still ahead regarding the Karnataka elections; the index came back in a trading range 10700-10900.

Nifty index opened gap down and remained volatile throughout session. Index negated the formation of higher lows of last 7 sessions and corrected towards 10700.

Now it has to cross and hold above 10785 to extend its move towards 10888, while a hold below 10725 could drag it towards 10680 then 10625.

India VIX moved up 2.09% to 13.43.

Bank Nifty opened negative and traded in broader range between 26100 to 26400.

Now, if it sustains below 26250 then profit booking could take it towards 26000-25950 zones while on the upside, immediate hurdle is seen near 26500.

* 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.

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