nifty future outlook for 9 to 13 may 2016

nifty future outlook for 9 to 13 may 2016 Nifty future this week closed at 7764 with loss. This was second weekly loss for this index.   We saw lower levels up to 7700 after breakdown below 7820. My tgts are 7605 and then 73000.   Levels below 7300 means extreme panic situation in market. In that scenario nifty tgts will stretch up to 7100 to 6800.   Below 7820 keep sell on rise view. Trend will change if nifty gives weekly closing above 7820.   Future traders below 7820 keep sell on rise view and keep tgt at 7605 and then below it 7300. Option traders use nifty 7800 put options to buy and accumulate with stop loss.

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Pramod Baviskar

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