Market Outlook of 18th May, 2018.

Nifty extend losses for the second consecutive session, ended below 10700; Midcap outperformed today.

Nifty index failed to cross above 10785 zones and witnesses selling pressure on last session. If it holds below 10725, then weakness could extend and take it towards next major support of 10600 zones while hurdles at 10785.

India VIX fell down by 0.20% to 13.40.

Bank Nifty failed to surpass 26250 and corrected towards to 26000. It is forming lower highs – lower lows on a daily scale from last 3 sessions.  If it sustains below crucial juncture of 26000-25950 then fresh weakness could be seen towards 25700 while hurdles at 26250.

* 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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