Markets Weekly Dairies 21-25th May 2018

Last week was a roller coaster in markets after some time!

Don’t want to boost our analysis week after week! Do read our previous articles to understand more about BNF (BankNifty) & our Analysis

Markets are in Catch 22 situation, BNF has closed at 25875.

9 days left for the expiry in May month.

With Politics out of the equation, Insolvency and Bankruptcy Code first success, Crude at high, Rupee Depreciation, Good monsoon expectation, Fair GST Collection last month, IIP bit drag, Food Inflation and Wholesale Inflation on north side movement.

May 22nd SBI Results- Watch Out!

GDP data and Interest Rate Decision awaited! for June 7th Expiry Week

Markets after budget taken southward movements(downside) have rebounded and have made high on may 15th.

BNF Made a low of 23606-23670 -23rd March

BNF made a high of 26972-26474 -15th May

Midcap and Small Cap Index have been falling since January.

Now Coming to BankNifty for the week  ahead

BNF Support is – 25600, 25460 & 25140

BNF Resistance is -26090,26280,26450 & 26620

Magic Number for Bulls – 26120 -Close above for 2-3 days will lead to 26470

The magic number for Bears- 25500 -Close below for 2-3 days will lead to 25250

Bulls have to take out 26120 for any comeback in May Month Series

Bears have to take out 25500 for further strength in May Month Series

Trade less with Savings Money

All the best

Sagar U.S

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