NIFTY OUTLOOK: 24.5.2015
NIFTY OUTLOOK niftyfut taken supp from 8020 making tripple bottom on daily chart and bounce back ( on 17.12.2014 nifty low was 8007.85 bounce was upto 8492 on 1.5.2015) (on 6.1.2015 nifty low was 8000 bounce was upto 9029.5) now again nifty made low 8020 on 7.5.2015 on the day nifty made low 8020 that day i flash msg on telegram nifty made tripple botton and huge consildation was on the day of nifty alerted nifty bounce formation was going on and now nifty rally toward 8488 till 22.5.2015 this was again 22.05.2015 was gann date where we see nifty moving up high) now coming to further move we are having too many resistance point nifty heading ahead 8491-8551 nifty auction resistance coming also volume action on daily chart supp now coming 8258 and on weekly auction volume supp coming 8279 now nifty any correction ahead coming from 8488-8491-8551 range volume action first supp we are expecting 8373 break below more correction expected toward next daily and weekly action volume supp which is 8258-8279 both level break majore damage expected else reversal from this point again moving higher expected in next series of june where volume action coming point is 8620-8630-8670-8711-8725-8784 this are the major hurdle for next series if nifty move higher above 8551 either in this series or next series.. nifty retracement from 8488-8550 any of this level should be supported at 8258-8279 daily weekly volume auction support break below panic fall expected where 8130-8109 volume action support coming (aayeshatech)
Banknifty outlook :
Banknifty outlook as we have mention banknifty resist point coming at 18750 which is volume action resist on daily chart and just check price of high on 22.05.2015 18725 and banknifty was first sign to show weakness and fall to 18300 supp coming on daily volume auction 18193-18084-17906 where expected reversal any fall below 17906 is only word panic fall will start which can helt banknifty toward 17253 but if hold banknifty 17906 volume action supp reversal again will be seen toward 19219-19289-19800 weekly action price resist while daily price action coming to 19219-19657 aayeshatech)
(For more update i will gave more detail on live mkt hrs further ahead just stay light at this mkt level where nifty only manage and lagaging to move higher without major mkt stock participation many plenty of stock are not performing in this rally also last 3 days many stock are started correcting and only nifty moving higher so its not safe to go aggressive buyer at this stage better wait for lower level to add strong buy aayeshatech )
