Stocks for Tomorrow
& Nifty Outlook


Stock Ideas 22 May 2018
SBIN - Stock has given a short correction in past few sessions with volumes. We have seen doji pattern on daily chart in today's session. We recommend buying from current level for the target of 255 with the stop loss of 247.
INFRATEL - Stock is in consolidation phase from past few trading sessions. The stock is trading near to 200 DMA & EMA on hourly chart and given closing in the red candle on the hourly chart. We recommend selling around 325 - 324 level for the target of 315 with the stop loss of 330.
NATIONALUM - Stock has performed well today with good volume breakout on the daily chart. We have seen death crossover on the daily chart and the stock is trading near to 200 EMA on the daily chart. We recommend selling around 75 for the target of 70 with the stop loss of 77.

Nifty Outlook

Index Outlook - 22 May 2018

A consecutive five-day sell-off breeds Bears as bulls are slaughtered with higher volatility and profit booking. A consecutive selling across the board was seen with only stock specific bullishness and PSU banks ahead of SBI results. A loss of momentum is seen for bulls while bears capitalized due to multiple negative cues not just on the Domestic but global front as well.
The Fall of BJP in K'taka post-Yedurappa resignation is one of the reasons we have seen a sell-off while it is coupled with a consistent upward move in volatility which is now above 14.39 levels. Higher crude oil prices in global front have also aided the fall and continued weakness in INR to above 68 levels has sparked concerns of fiscal deficit. 
Nifty has support at 10450 - 10480 on the lower level where it may take a halt for a moment while bank Nifty has support at 25500 - 25450. As previously stated we recommend Sell on any bounce strategy