Friday, May 25, 2018

Market out look dated 25th May


As being a weekly expiry of Bank Nifty and maret have been wipe out substantially from the high and entered in over sold region resulted sharp pull back in market due to short covering.  Over all looks that more up side in coming days.  As Nifty wipe out almost 500 points and Bank Nifty 1400 points from their highes.   So as long as holding Nifty 10400 and Bank Nifty 25600, short term trend is up and remain above avoid any short sell.  Number of stocks of Nifty already in over sold region like, Tata Steel, HDFC, HDFC Bank, VEDL, Sun Pharma and many more, so pull back can not be ruled out. 

Nifty  : 
 back and save 10400 mark and short term bottom established. As fall from 10930 to 10417 so pull back rally or retracement likely continue which may go   10714 level which 61.5 % retracement of this fall.    
Today support  10490-10450  and resistance 10560  once sustained above, short covering and fresh buying towards 10600 10630. 

Bank Nifty  : 
Almost wipe out 1400 points from the high 27000 to 25600  i.e.  1400 points so retracement rally likely which may go up to26465 in near term.
Today support – 25800 whereas to buy side, holdingabove 26000   up side open towards 26200 26500  towards expiry. 

Thursday, May 24, 2018

Market out look dated 24nd May 2018

Market Trend
Short term trend is bearish, sell on rise strategy, in nifty front line counter facing huge selling pressure don’t go for long side, more downsdie fall we will see in upcoming session, now bnaknifty also participating this downside rally..Over all market are under pressure and all Indices are looking bearish in near term.   No bbuy and only sell on rallies.
Nifty  Spot
 Upside Resistance 10490-10500 as remain below donw sided open target 10330 which is 38.2 percent.
Nifty Future
Intra day only ksell  on rise.   Resistance 10460-10470 asa supply  zone.
Bank Nifty
Downside support 25400-25500,  Upside Resistance 25750-25850. Remain below 26000  weakness towards 25500 25200 25000.
Wednesday, May 23, 2018

Market out look dated 23nd May 2018

Market Trend
Over All trend is bearish but short term entered in over sold and some pull back or consolidation likely in next  few sessions.  After a good result announced by SBI, over all positive bias seen in market due to oversold region.  So at the current level fresh short should be avoid and stock specify moement likely continue in either side.  Concentratealso Index with positive bias.  
Nifty  Spot
Downside support  10490 14080 and below some weakness 10450, resistance 10560, crossover and stay above sharp move towards 10600 10630.
Nifty Future
Buy on decline around 10520 10525  stop loss 10490 target 10560-10610 10650
Bank Nifty
B uy on decline around 25750 + stop loss 25600 target 25900 26000
Tuesday, May 22, 2018

Market out look dated 22nd May 2018



Market are continue in bearish mode once it was broken support level 10700 and finally it was made a low 10500  and closed below 10560 mark.    Strong bear grip and as long as remain below 10560, down side towards 10450 10440 10400 mark easily.

Bank Nift
Break down support level 26000  and remain below down side target 25500 25200 25000 likely in coming days.   Heavy short sell added in front linestocks.   However some short covering seen in govt. PSU bank stocks.

Sell Side..............
Cipla
GRASIM
TATA MOTORS
VEDL
HINDALCO
TATA STEEL
AXIS BANK