Market Outlook for 16th May, 2014

Nifty Future:

To write levels for today’s trading is hazardous as big event like Election Result can bring huge volatility and difficult for traders to react for every event unfolding till the final results are out.

Having said that, one can look for more reliable tools like Gann,  atleast to know where the probable Resistance and Support levels  are placed. Incase of frenzied move, market could resist around 7650 on upside and on downside support could come around 6350.

Trade carefully and Best wishes

Good Luck !!