Outlook of the Indian Stock Market for 19th May, 2017

Daily trend of Nifty is Up. Trend of Nifty had come in uptrend again on 24th April, 2017. Overall trend is still up so we go on holding our longs till trend does not reverse. We had been talking continuously of things like "Sell in May and Go Away", "US Vix is at near 20 year low means noone is worried", well, the bear strikes at that time only when noone thinks that markets can fall also. The first damage to the world markets has been done by US markets falling sharply with a gap. Ideally speaking we should get a counter rally from tomorrow onward if markets had a normal correction. Hence trading of Friday would be a key day to watch in equity markets. If they close weak, then chances are that uptrend is broken. ______________________________________________________________________________________ Percentage of stocks above support came above 50% on 1st January, and are still above 50% and till then we keep holding the deliveries. Strong Futures This is list of 10 Strong Futures: CEAT, PIRAMAL ENTERPRISES,Hexaware Technologies, ICICI BANK, Hero MotoCorp, CG POWER AND INDUSTRIAL , Mang. Ref & Petochem, DLF, South Indian Bank and Pidilite Industries Weak Futures This is list of 10 Weak Futures: Glenmark Pharma, CESC, IDBI BANK, Jain Irrigation Systems, BHARAT FINANCIAL, Punjab National Bank, Bharat Forge, IRB Infrastructure, Fortis Healthcare and Capital First ------------------------------------------------------------------------------------------------------------------------------------- Free Letter Disclaimer Disclaimer: crnindia.com does not warrant or make any representations regarding the use or the results of the use of the materials in this site or other sources in terms of their correctness, accuracy, reliability, profit, or otherwise. crnindia.com does not guarantee the accuracy or completeness of any information and is not responsible for any omissions. crnindia.com clearly states that it has no financial liability whatsoever to any user on account of the use of information provided on the website or email.