Outlook of Indian Stock Market for 22nd May, 2017

Daily trend of Nifty is Up. Trend of Nifty had come in uptrend again on 24th April, 2017. Markets did not fall on friday with US and main indices holding on. Strangely, the cash stocks saw a profit taking in India as well as US. Overall structure of equity markets is disturbed till markets do not make a new high. Here in India we go on holding our longs till trend remains up. But it is suggested that one should start taking profits in cash stocks now since we bought on 1st January and are sitting in good profits. 9300 nifty index is the major support, a breach of which on closing basis would call for the uptrend to change. ______________________________________________________________________________________ Strong Futures This is list of 10 Strong Futures: PIRAMAL ENTERPRISES, CEAT, CG POWER , Hindustan Unilever, South Indian Bank, Escorts India, ITC, State Bank of India, Hexaware Technologies and ICICI BANK Weak Futures This is list of 10 Weak Futures: Glenmark Pharma, BHARAT FINANCIAL, IDBI BANK, Kirloskar Cummins, Jain Irrigation Systems, Punjab National Bank, CESC, Capital First, IRB Infrastructure and IFCI ------------------------------------------------------------------------------------------------------------------------------------- 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.