Nifty slumps before F&O expiry, closed at 4950

After seeing a range-bound session yesterday, Nifty fall significantly and suffered a loss of nearly 0.80%. Auto sector stocks were the worst performer today. Its F&O expiry tomorrow and market sensed a play-safe mode today. Rupee again slipped for third consecutive day. Moreover weak cues from Asian Markets and concern over GDP put the market downside.

For coming trading session, market is likely to remain same. A range-bound session could prevail for couple of days once nifty reaches 5000-5100 level. Major resistance is still hovering around 5200 mark.

Best Stocks To Buy Today

The market started the the first day of expiry week with positive note. Nifty is trading up and following are the stocks to watch today-

TVS motors Company Ltd.-

Buy Above 34.35 TG- 34.70-34.90-35.30 Stop-loss- 34.05

Dena Bank-

Buy Above 86 TG- 86.80-89.50 SL- 85.10

Reliance Communication-

Buy Above 67.10 TG- 68.00-68.70-69.10 Stop-loss- 66.30

Jubilant Foodworks Ltd.-

Buy above 1250 for the targets of 1270-1285 SL- 1232

Nifty Outlook for Tomorrow

Rally in banking, oil and Gas sectors elevated the market Today Nifty made a robust gain. Banking Stocks boomed today and this sector remained the best today. The major factor for this rally was off-course the hike in petrol prices which let the market go up despite negative global cues.

Nifty Made significant gain of 85.75 points and closed above 4920 level. But the market still hasn't outrun the bearish trend. The Global market is still uncertain and this may cause a pull back in the Indian stock market also.

Technically major resistance for Nifty futures is still residing near 5130 level. On the downside staying below 4890 can invite the downtrend again.

Nifty Outlook for Today

The market was down yesterday and the Global cues are not supportive. Since the US market closed flat, rupee is declining and Asian stock markets opened negative today, we can not expect a good day for Indian markets too. The market may see a rally for a while but major resistance to break is 5100 level.

In today's market, For nifty futures, a strategy of Buy on rally could be the best option for the traders.

Nifty started the day with negative mark. Today's session is likely to remain choppy.   

Stock Intraday Tips for Today

DLF
Buy  Above 190.50 TG-192.50-194.00 Stoploss- 187.50

Bharti Airtel 
Buy above 299.00 for the targets- 303.50-306.00 Stoploss below- 294.70

Coal India Ltd
Buy  Above 306 TG- 310-315 SL- 301.50 

Nifty Intraday Outlook for Tomorrow (18 May)

The initial swiftness seen  in the Nifty today was took away by the negative cues from European markets. This made Nifty close flat shedding all the morning gains. Weaker rupee index and Greece concern  deteriorated the market gains. Nifty  added only 12 points to its previous close and closed at 4870 mark.

Technically market is positive but the cues around may negate the positive view. if nifty manages to prevail 4950 level, we can expect Market to move up to 5000 level soon.

Below 4840, downfall is expected.