nifty weekly analysis for 23 to 27 may 2016

nifty weekly analysis for 23 to 27 may 2016 Nifty future this week closed with loss below 7820 which is very bearish signal.   For next week, nifty outlook remain weak and expect downside tgts. Nifty future is heading towards my tgts 7605 and below it next tgt will be 7300.   For next week, on upside resistances are 7800 and then 7860. Reversal of downtrend will happen if nifty future sustain above 7860.   For future traders with profit in nifty shorts trail SL just above 7820 and expect tgt 7605. Option traders watch nifty 7800 put option for big gains.

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Pramod Baviskar

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