Free Intraday Trading Tips For Tomorrow : 17th May (Thursday)
The market ended volatile session lower on Wednesday, but recovered half of its losses amid continued uncertainty over the formation of government in Karnataka. Recovery in rupee post RBI’s likely intervention and fall in crude oil prices also supported the market. Reliance Industries, ICICI Bank and HDFC Group stocks dragged while ITC and HUL provided support to the market. The 30-share BSE Sensex was down 156.06 points at 35,387.88 and the 50-share NSE Nifty fell 60.80 points to 10,741.10. The Nifty Midcap index outperformed frontliners, ending below the flatline but the market breadth remained in favour of declines. About two shares fell for every share rising on the NSE.
Market Prediction for Tomorrow
Thursday market is expected to be sideways and lot will depend on who will form government in Karnataka, buying on dips strategy is suggested, there has been lot of opportunities in the market you just need to track what is happening in Karnataka and trade according to it.
Key support for Nifty future is 10700 and (10640-10600) which is not expected to break by Nifty future and Resistance for the same is 10815-10890.
Key support for Bank Nifty future is 26020 and 25750 and resistance for the same is 26470 and 26800.
Stock Recommendations for Tomorrow
Buy Mind Tree Future above 1015
Buy Graphite India above 776
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