Intraday outlook of Market for May 17, 2010

• Nifty Spot
  

Spot nifty looking weak unless & until 5065 (intraday only) short on rise is strategies for today

However if nifty spot cross 5015 than buy with 1^st target around 5060 & if cross 5065 than think for 5080 otherwise short around 5065 with stop loss of 5070

Short selling suggested at 5060 to 5065 level or below 5015 short with stop loss of 5020

• Bank Nifty
  

Bank Nifty also looking wean unless & until not cross 9490 or 9500 any rise short with stop loss of 9500

However if Bank nifty manage to give 9430 than buy with stop loss of 9410

Short only below 9410 with stop loss of 9430

• Aban    
  

As told to short in positional but for intraday players

Buy Aban with stop loss of 795 or 790 (rock solid support)

Intraday players short Aban only below 792 with stop loss of 798

• Reliance
  

Reliance also suggest to short with stop loss of 1035 (below 1026 )