The Indian share markets was into consolidation phase today. On back of weak global cues, sensex and nifty closed down.Sensex was down by 2.33% and nifty down by 2.94% yesterday. Huge profit booking came into effect today. But we expect a good rise tomorrow as the US markets are trading higher by almost 2.4% in Dow and 3.3% in Nasdaq as of now.

So the Indian markets might open gap up in tomorrows trading session.European markets also closed up. Asia was trading down today due to which the Indian markets cracked in the second hald of the day. Next major support for nifty stands at 4050-4080 levels. 4200 was a major reistence point which was broken and hence we saw a 120 points slide in nifty. Go long if nifty crosses 4200 levels in coming days. Next major trigger will be the union budget which will be coming in some time.

Here are some of the intra day calls for May 27th :

RCom

Buy  Above 300 Target 312, 318 Stop Loss : 294

Short Sell Below 289 Target 284, 281  Stop Loss: 293

ICICI

Buy  Above  675 Target 688, 700 Stop Loss :665

Short Sell Below 660 Target 652, 649 Stop Loss:664

Jai Prakash Associates

Buy  Above 183 Target 188, 191  Stop Loss :179

Sell Below 176 Target 173, 171 Stop Loss : 179

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