Monday, 7 May 2018

Monday pre market outlook, 07th May 2018

The nifty 50 closed the week with RED at crucial support  at 10600, daily and weekly chart confirm the bearish pattern.

nvestors are advised to stay cautious as the weekly chart pattern suggests a pause in momentum at least for the time being.A firm close below 10,600 could fuel selling pressure in the Nifty while a close above 10,700 could put bulls back in charge of markets.

the key support level is placed at 10,580, followed by 10,540. If the index starts moving upwards, key resistance levels to watch out are 10,680 followed by 10,740

Bank Nifty crucial support for the index, is placed at 25,560, followed by 25,500. On the upside, key resistance levels are placed at 25,710, followed by 25,770.

we may open flat to positive following Asian market and later on can continue on the trend of global market clues.

FIIs have pulled out over Rs 15,500 crore from the Indian capital market in April, making it the steepest outflow in 16 months, due to surge in global crude prices and rise in yields of government securities here. This comes after an inflow of Rs 11,654 crore in equities in March and an outflow of over Rs 9,000 crore from the debt market during the same period.

As many as 30 companies will be reporting their results for the quarter ended March later today which include names like ICICI Bank, Inox Leisure, Pfizer, Rane Holdings, Shalby, Tata Chemicals, and Tata Coffee among others

IRB Infrastructure, Balrampur Chini Mills, PC Jeweller, Jet Airways and Just Dial are present in FO Ban list.


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