You are here

9971900635 – Daily Market Report 05-05-2020

We have seen long unwinding in Nifty May fut in today’s trading session, after a positive opening Nifty fut witnessed long unwinding throughout the day, made the low of 9190.05 & closed at 9208.60. Fresh call writing is seen at 9700 & 10000 strikes, fresh put writing is seen at 9000 & 8500 strikes. Now Immediate support is at 9000 & next support is at 8500, immediate resistance is at 9500 & second resistance is at 10000 as per Nifty May series option’s data.

Today’s Top gainers in Nifty 50 are INFRATEL, M&M & POWERGRID. Today’s Top losers in Nifty 50 are SBIN, BAJFINANCE & BRITANNIA. Today’s best performing sectors are NIFTY ENERGY & NIFTY PSE. Today’s worst performing sectors are NIFTY PSU BANK & NIFTY REALTY. Today nifty May fut opened below the trend deciding level mentioned in our previous daily market report & witnessed the selling pressure throughout the day. Nifty closed just below the short term moving average line. So, we can say that short term trend of the nifty is down, last bottom on daily chart is 9115, any close below 9115 level will increase further selling & below that level we will see the levels of 8600 & even 8000. For upside move nifty has to close above 9500 mark above this level nifty will move towards 9700 & 9850.Trend deciding level for tomorrow is 9420.

Now resistance is placed in the range of 9700-9900 & support is placed in the range of 9150-9000.

This content is only for the educational purpose for ICFM Students. This content cannot be considered as a buying or selling recommendation. Join [ indian stock market course ]

ICFM India
ICFM - Institute of Career In Financial Market is a market leader in the segment of Financial Market Education. It is a unit of Career Pro Ventures Limited, a diversified education corporate. At ICFM, We deliver the cutting edge training to people willing to make career in financial markets. Our programs are not ordinary "Run of the Mill" programs.

Leave a Reply