Nifty Outlook 20th May

Pivot 5059
Support 4895-4972-4854
Resistance 4948-4973-5002

As we mentioned in our last edition of Nifty outlook that Nifty will become very weak if it falls below 5002.

It happened yesterday and it happened with a force.

After the breach of important 5002 level next support level of 4895 was almost tested.

It may tested today and Nifty may touch a lower level as well.

Any closing below 4895 is a dangerous sign and a very bad omen.
In such a case Nifty may fall even lower and we may see much lower levels.

Below 4895 next support exists only at 4667 and then at 4531.

We have been posting caution for all type of players in the market.

Now one may do some position based buying in this zone and in case of a closing below 4895 one must exit from all long positions with immediate effect.