Nifty and Election Result

Good Morning and Wish You a Happy Trading Session

Key Support-Resistance level of Nifty Future

·        If Nifty Future open above 11824 then may start to move up.

·        If Nifty Future open below 11746, then may take support at 11674—11662.

·        Heavy buying can pull the index to 12049.60.

·        Above 12095/121017.45 very vital resistance is 12342.50

·        From any intraday top a correction of 225 (approx) is possible.

Today’s Overview:

Overall trend is up till 23^rd May. After that a sharp correction is quite possible. Today market will be very volatile.

 Reliance:  

 Vital support of the day is 1323.

Vital resistance of Reliance (cash) is 1390---1397; fail to cross this level Reliance may start to melt down sharply.

UPL:

The day before yesterday this stock made high 1043.60, now closing above 1069 the stock may run to 1285.50 within couple of weeks.