Daily Analysis of NIFTY & BANKNIFTY and stocks 23RD MAY

 Namskar dosto 

1. Today we see the nifty fut open at 16270 which is the positive opening and after opening sentiments look positive, in telegram only icici bank trade given which is ended up in positive 

2. NIFTYFUT currently at 16380 the time I writing this blog NOW closing at 16164 , closing 88 points down

3. Top gainers index is NIFTY AUTO which is by 1.84% which leads by MARUTI (4%), M&M(4.24%)

4. Last week HINDUSTAN UNILIVER was given at 2220 , currently at 2375 given 8%+ keep long only if bought keep till 2500-2600-2700

5. FMCG sector is fourth largest sector in indian economy , commonly FMCG seen as safe bet for conservative investor 

6.NIFTYMETAL down by 8% today , where TATA STEEL  down 13% , JSW STEEL down 12%

7. Metal stocks melt down as government imposes export duties

8. IN NIFTY 16400 is working as a strong resistance , downside support is 15750 , overall view in nifty is bearish side in nifty for long setup nifty should be closed above 16500 in cash 

9. BANKNIFTY ALSO Taking a resistance at 34750 , downside support is 34000 & 33200  , kotak bank have good structure for long position.

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