Wednesday, May 22, 2013

Outlook for 23rd May 2013



Market is still continuing with its correction and has reached its first support from where market is expecting to restart its upward move. And as overall trend is  still up, the  readers who are holding longs in Nifty since 17th April may go on holding them till the trend remains up.

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Percentage above support

Percentage of stocks above support is still above 50%, so the readers who are holding longs in cash market may go on holding them till the percentage above support remains more than 50%.

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Strong Futures

This is list of 10 Strong Futures: Adani Power, Crompton Grea, United Spirit,LIC Housing, United Phos, MRF Ltd, RCOM, CESC, Hindalco and Uco Bank.

Weak Futures

This is list of 10 Weak Futures: Opto Circuits, India Cem, FRL, Punj Lloyd, Renuka, Divi s Lab, IFCI, SAIL, DLF and Hexaware Techno

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