Saturday, May 06, 2017

Outlook of the Indian Stock Market for 8th May, 2017

Daily trend of Nifty is Up.

Trend of Nifty had come in uptrend again on 24th April, 2017. Overall trend remains up. Inspite of FII selling since one month, our markets are not ready to fall though at higher levels they do face resistance. It is because the US markets which are the trend deciders of the world markets are holding on. Till US markets are holding on, it seems the equity markets will hold on.

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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: CANARA BANK, FEDERAL BANK, Indian Bank, GUJARAT STATE FERT, CEAT Limited, IBULHSGFIN, Bank of India, Andhra Bank, CAN FIN HOMES and LIC Housing Finance
Weak Futures

This is list of 10 Weak Futures: ADANIPOWER, Reliance Com, Hindustan Zinc, Lupin Limited, ADANIENT, Jain Irrigation Systems , Jindal Steel & Power, Jaiprakash Associates, Biocon Limited and Glenmark Pharma
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