Market Trend – May 20th 2014 …

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CNX Nifty CMP 7263

Synopsis

• Yesterday, Nifty opened on a positive note & range bound trading was witnessed leading to a mildly positive close at 7123 up 0.2%.
• Till Index holds 7200, it will move upto 7330-7370-7398.
• If breaks & sustains below 7200, can fall upto 7040-6960 zone.
• Daily as well as Weekly momentum is in positive territory indicating Index to trade in a broad range of 7190-7370.

Bank Nifty Spot CMP 15,223

Synopsis

• Yesterday, Nifty opened on a positive note & range bound trading leading the Index to close 2.5% positive at 15223.
• Till Index holds 14,950, it will move upto 15,450-15,650.
• If breaks & sustains below 14,950, can fall upto 14,600-14,400 zone.
• Daily as well as Weekly momentum is in positive territory indicating Index to trade in a broad range of 14,900-15,600.

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