Market outlook for Monday:-
Nifty is having crucial support at around 5,434 and 5,400 and resistance at 5,516 and 5,551 levels. Immediate supports for nifty are placed at 5,450 - 5380 levels and the resistance at 5,550 -5,610 levels. On weekly charts Nifty gave a negative week showing that the market is still in a sideways movement.
Weekly market outlook:-
For the coming week, Nifty is expected to remain choppy in the range of 5,350 and 5,600 traders should look for initiating longs only above 5,530. Traders should look for initiating longs above 5,530 for target of 5,600 with stop at 5,500 on close basis. Option traders can look for initiating put positions around 5,450 levels with stop of 5,500 on closing basis. Power and Infra stocks to remain in focus.
Weekly market outlook:-
For the coming week, Nifty is expected to remain choppy in the range of 5,350 and 5,600 traders should look for initiating longs only above 5,530. Traders should look for initiating longs above 5,530 for target of 5,600 with stop at 5,500 on close basis. Option traders can look for initiating put positions around 5,450 levels with stop of 5,500 on closing basis. Power and Infra stocks to remain in focus.
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