MARKET WRAP FOR NIFTY & BANK NIFTY
Nifty:-
Nifty is running in the range of 8450 and 8370, 8450 is very strong resistance and 8280 is a good support, tomorrow will be expiry of MAY contract and a bull closing is expecting as chart are showing to us, today nifty has closed 4 point negative but it has open gap down around 35-40 point it has recovered from low levels and that is a good support level for nifty, fro expiry we take buy position for nifty as well as in bank nifty future because bank are looking more attractive.
Bank Nifty:-
Bank nifty future is running in a channel line as we can see on the charts, so at the levels of 18550 it is taking resistance of channel line.
Stock Recommendation:-
Nifty:-
Date and Time 28-05-15
Call: LONG
CMP: 8345
Initiation Level: 8350
Book Profit (Level 1):
8400
Book Profit (Level 2): 8500
Stop Loss: 8500
Conviction Level; moderate risk
Reason:
STRONG SUPPORT
Short term Trend: CORRECTION
Medium Term Trend: DOWN
For the investor: SELL ON HIGH
For Aggressive Traders: SELL ON RISE AND BUY ON DEEP
Support: 8270
Resistance- 8500-8700
Duration: 1-3 Days
Bank Nifty:-

Date and Time 28-05-15
Stock: BANKNIFTY
Call: LONG
Initiation Level: 18500
Book Profit (Level 1):
18600
Book Profit (Level 2): 18800
Stop Loss: 18300.
Reason: RUNNING IN CHANNEL
Short term Trend: DOWN
Medium Term Trend: DOWN
For the Investor: SELL ON HIGH
For Aggressive Traders: SELL ON RISE AND BUY ON DEEPS
Support: 18300-18000
Duration: 1-3Days

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