Daily News Letter – 16th Oct 2018 Commodity Market

Gold  : Oct. 32071

 Strong bullish view and holding above 31500  buy on decline strategy and up side open towards 32000-32300-32500 in short term.  Trend Reversal 31600

Silver : Dec –  39135

Last two weeksit was strong come back and week to week basis almost added 1000 points and we were bullish above 36000  and almost gained more than 3000 points.  Bullish trend and any dip to buy side. Trend Reversal 38700.  

Crude Oil – Sept    5272

 Last week Brend oil price tumble on bvack of higher invesntory and weakness in USA equity market.  Higher and more and more supply likely correction continue.  However, decent support in NYMEX at 80 dollar once it will break some more weakness, but trend is very positive side.  Consider support 55200  once break down more selling likely, upper side resistance 5300 and stay above over all buying likely.    Major resistance 5520 which is 61.85% of 7784 to 1805.

Copper ---Sept   457

 Copper Mcx- As comex copper is showing that the prices for copper should move towards lower side and it is expected that the movement  in copper mcx would also be similar. And 470 would act as a major resistance for Mcx Copper.  Down side 450 watch out and break down major weakness

Nickel –Sept  927

Over all trend is bearish with consider support 900-8880 range and upper side resistance 865-870, once stay above real blast on card.   Ready for big move once stay above 970 non stop target 1000-1025 likely.

Natural Gas –Sept.  239

 As we were continue writing a bullish but higher level strong profit booking see and finally week to week basis it was coll off 18 points.   Over trend is bullish and time for consolidation

Aluminum –Sept.  150.55

Some recovery seen from a lower level and almost made a low last week 144 mark.  Now higher level resistance and supply zone is 150-152 range once successfully stay above, it will move like rocket.  Holding above 150   looks good and buy on decline strategy. Ready to break out.

ZINC -  Sept.  194

Bullish trend but unableto cross 205 and heavy profit booking seel.  Now time to sell on rise strategy and as long as below 205 weakness towards 190-185-180 also in near term

LEAD – Sept.  1154.50

Finally it has broken resistance level and made a high 156.50. Very bullish view and buy side.

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Daily Morning News Letter – 16th OCT 2018 EQUITY – FO –CASH-OPTION MARKET

Market Trend   :

   Nifty Finally take support 10100  + and Bank Nifty 24500

    As long as hold – any dip to buy side.

     Nifty and Bank Nifty Looks break out at higher level. 

     Nifty Above 10550 + Bank Nifty 25500  +  very hot

Market Out Look :

Overall trend is positive but  intraday sharp correction seen and finally able to closed above 10500 mark which indicate short term trend have been change and ready to upper level.  Down side smart money are coming in the market.   Intra day any dip to buy side

Nifty Spot  :  10513

Bullish candle on daily and weekly chart, consider support 10450-10410, upper side resistance 10550, once stay above decent up move on card.   Trend Reversal Level 10368

Nifty Future  :  1517

 NIFTY 50  FUTURE –   over all good and buy on dip strategy with consider support  10480-10450, upperside stay above 10500 gate open towards 10564 and 10600 and above.

Bank Nifty Spot  :  25314

After made a low 24500 strong back and almost 1000 points gained within two trading sessions, so we may consider short term support have been established in market and on holding basis above 25500, upper side open towards 26000-26100-26500 in near term. 

CNX PSU BANKS     : 2707

Volatile movement with consider support  2600-2630 and almost able to hold for the last two week so we may consider short term support and as and when hold up side likely.

CNX IT    :   14737

As we are bearish below 15600  and almost 1000 points  losses seen and almost all stocks was down and selling pressure continue.  Now time to book profit and avoid fresh long

CNX Pharma  : 9774

After made a high heavy profit booking seen but near to 200 DMA and looks that over all good buying opportunity at current level or some decline of front line stocks with consider support 9000 mark.   Auro Pharma, Sun Phalrma, Lupin are looking good.

CNX Metal  : 3424

After weakness again showing some strength and almost U turn seen at lower level.  As long as hold 3200 level no problem and remain buy side.  Any sharp dip to buy side.

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Daily Morning News Letter – 11 th OCT 2018 EQUITY – FO –CASH-OPTION MARKET

Market Trend   :

   Bullish Candle in Nifty and Bank Nifty

    Nifty Support 10200  -  Bank Nifty  24500   - as long as hold Bullish View  (Panic up to  Decent buying opporrunity)

     Strong Dip to Buy side  -  Any Gap down opening do not jup to short position.

      Strategy   : Any Buy or Sell   - Wait first 15 minutes   - Buy 15 minutes high and stop loss 15 minutes Low .

       Option Writing Support 10000   - Resistance 11000

     

  Nifty Crash 1496 points (from 11760 to 10294 – Earlier down 1220) points

 Maximum correction likely 15% from High 11760 which is 9996  (50 points in either side )

Major Support -  Nifty  9900-9952   -  Bank Nifty   23605

Market Out Look :

After three weeks fall, market finally taken support at lower level and across the board broad based buying seen like, Banking, Auto, FMCG, Metal, Pharma Reality and only IT sector legards due to profit booking ande strength of rupee.  Over all looks that short term bottom have been established  in market and last week low  10200 are a good support and hold these level up side gate open towards 10500-10750 in coming days.  On the positive side,   heavy long seen in Nifty and Bank Nifty of Out of the Money call and short covering seen in In the Money call.

Nifty Spot  :  10460

Overall strong bullish candle and almost added 150 points above and finally closed with a good note. Short term support 10200-10250 have been established and as long as holding above up side towards 10500-10550. Today support 10400  + good opportunity to buying side.   On FO side, almost 10300 to 11000 strike price short covering seen, whereas in put side, lower side short  covering seen which over all indicate any dip to buy side and market are ready to big move in coming days.

 TREND REVERSAL LEVEL 10538 .Trend is Down – Loss 5.6% last week – Major support of bull market 9800 + (thereafter start bear market)  Earlier swing low  6825—7893-10200.

Nifty Future  :  10466

 NIFTY 50  FUTURE –  strong above and almost 170 points added and whole the day was positive side seen across the board.   Now today consider support 10400-10405  and holding basis up side target 10530-10600 likely.

Bank Nifty Spot  :  25322

On Wednesday strong come back seen and from the low more than 700 points added and overall buying seen in Pvt Sector Bank and PSU Bank.  Consider major support 25000  + and resistance 25500, stay above major break through in Bank Nifty towards 26000   +.   Weekly and monthly support 23600 and likely test in coming days.   

CNX PSU BANKS     : 2819

Strong come back and almost gained  more than 140 points from a low.  Now consider support 2770-2750, upper side resistance 2860  and stay above strong buying towards 2900-2950 likely.  

CNX IT    :     15143

After made a all time high some selling pressure seen and likely continue in near term.   Now consider resistance 15700 and remain below down side target 14700 + in coming days

CNX Pharma  : 9771

After made a high heavy profit booking seen and finally break down 10000 mark and over all selling seen.  However, it has still holding 200 DMA which is a positive sign and any sharp dip to buy side.  Consider resistance 9850  and stay above towards 10150 in short term.

CNX Metal  :  3440

Over all time for consolidation with consider resistance  3500-3540  and stay above think positive bias but lower level good opportunity to buy side.

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