Daily

Daily Market Update Report 15-05-2018


On 14/05/2018 markets opened higher traded with choppiness and finally closed on a flat note. On the sectoral front Capital Goods, Consumer Durable and Telecom ended on the losing side whereas Bankex and Oil &Gas ended with marginal gains. The advance decline ratio was in favour of declining counter (Advances = 845/Declines = 1827).

Pattern Formation: On the daily chart, we are observing doji candlestick pattern which suggests indecisiveness prevailing at current level. 

Outlook: The current price action suggests that markets are circumspect at current level. In coming trading session if Nifty trades above 10850 levels then it is likely to test 10880 – 10920 levels. On the downside, 10750 – 10680 levels may act as support for the day.

Since, the Karnataka state assembly results are going to unfold we are likely to witness volatile session. Hence, one should adopt cautious approach at current level.

Tags: Nifty Technical OutlookNifty50 Technical LevelsGuru CallsFIIs & DIIs DataRatings for stocks under our coverageNews for stocks under our coverage


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