Market out look dated 18nd May 2018


Nifty Is finally break down support level in short term and trend now bearish and likely to more selling pressure in coming days. As time being market have been top out at 10930 and likely test some retracement level 10556 which is 61.8% from 10930 to 9951. Nearly 10550 and 10600 are a good support of this decline. Presently HDFC looking bearish and more selling pressure, whereas PSU Bank looking weak and some more selling in Metal and Pvt. Sector bank. However, Pharma segemtn readyfor pull back.

Today resistance 10700-10730 oncecrossover some strength, down side break 10660 more down sided towards 10600-10580-10556 likely. At lower level major support 10500 + and do not think to any short sell.

Trend is bearish once it was breakdown 26500 level. Any rise to intra day to sell on rise at 26280-26300 stop loss 26500 target 26000 25800 and belo

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