It was a flat trading week for Indian Stock Markets. Both indices closed flat this week. Due to positive rally we can see 5,650 as a strong resistance for the market next week. If Nifty breaks 5,650 with high volume than only we can see up-move towards 5,700. However we feel for the coming week market to trade in the range of 5,450 and 5,650. Sectors to watch out for next week would be FMCG and banking.
For intraday trading on Monday (16-May) trend deciding level is at 18580 / 5560. If indices trade convincingly above this levels then they are likely to test 18,700 - 18,850 / 5,600 - 5,650 levels. However, on the downside if 18,420 / 5,510 level is breached then indices may test 18,300 / 5,450 levels.
For intraday trading on Monday (16-May) trend deciding level is at 18580 / 5560. If indices trade convincingly above this levels then they are likely to test 18,700 - 18,850 / 5,600 - 5,650 levels. However, on the downside if 18,420 / 5,510 level is breached then indices may test 18,300 / 5,450 levels.
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