Editor’s Take: Anuj Singhal’s View On Market

MARKET: THE DOUBLE DIP!
First dip was purchased strongly yesterday
Second dip resulted in day’s low closing
Each “Purchase on dips” and “Promote on rally” working
Present market is for individuals who can play edges
 
Financial institution Nifty: Market’s headache
Date                     Excessive               Fall from Excessive
Might 18                44079                   -327 pts
Might 19                44021                   -52 pts
Might 22                44027                   -142 pts
Might 23                44096                   -141 pts
Might 24                44010                   -332 pts
 
MAY SERIES: BEST OF THE YEAR
Index                                   This sequence
Nifty                                          2.1%
Nifty Midcap                             5.3%
Nifty Auto                                   7%
Nifty IT                                     5.6%
Nifty Realty                              4.3%
Nifty FMCG                              4.2%
Nifty Financial institution                                1.5%
Nifty PSU Financial institution                         -2%
 
NIFTY OUTLOOK
First assist: 18,250-18,263
18,250 is choices base and 18,263 yesterday’s low
Greatest assist: 18,141-18,198
18,198 is 20 DMA and 18,141 is 20 DEMA
 
BANK NIFTY OUTLOOK
First assist zone: 43,450-43,500
43,450 is current low and 43,500 is 20 DEMA
Greatest assist: 43,326 (20 DMA)
First resistance: 43,841-43,900 (Choices primarily based)
Greatest resistance: 44,000-44,100 (Excessive of final 5 days)

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