NIFTY OUTLOOK: MAY SERIES (03.05.2015)
NIFTY OUTLOOK After march again april series seen down closing in negative expirty bounce from 8328 to 8873 and expiry happen 8180 all gain get wipeoff due to indian mat problem fii are no more agressive in mkt every rise selloff happening every one in street is bearish for tgt of 7700-7800
so coming to technical side mkt is oversold last from 15thapril mkt is falling oneside from 8873 to 8180 without any short term bounce also rsi indicated oversold rsi falling near 29-27 level is strong buy nifty zone coming nifty last 5 session not able to cross 8330 current range of nifty fut is 8196-8361 in may series.. consildating for may series we can see very strong supp zone 8063 on closing basis.. which is very crucial level major worst can happen only below this level only else short term pullback in mkt is expected before another round of retracement above 8330-8361 nifty will show smart recovery toward 8532-8620-8764 for upper side big retracement level of selling level is 8620-8764 for more update i will inform during mkt hour..
COMING session TYRE STOCK, PHARMA STOCK,IT STOCKS ,PAINT STOCKS KEEP WATCH ALREADY LAST 3 DAYS REVERSAL IN MANY OF THIS SECTOR STOCK SEEN GOOD RECOVERY.
aayeshatech
