Monday, December 26, 2016

MARKET OUTLOOK FOR TUESDAY


As expected market breached support level of 7910 on intra day basis but able to closed above 7900 mark but trend is confirming down side However, market are over sold region and we may consider resistance 7950 8000 region in short term, down side support 7890 break this level nonstop target 7800 +. Hold short position with trailing stop loss.
Bank Nifty.....................also looking bearish as mentioned in our previous report once it was broken support level 18000 on weekly chart, short term support 17500 .............break below more down side, Trend is down and no need to buy side. Sell andSell.
some stocks to be watch out as they had broken major long support and fresh down ward bias will be resume.
Can Bank...............Mentioned to short 300 and below 285 free fall almost wipe out 30 points. now support zone 250 watch out which is also 200 DMA.
DLF.....................Major support broken 105 with decent volume and closed below. Now read totest 92 85 mark in coming days.
Bank of Baroda.
As we are bearish of this stock from the level of 160 and last support exit likely 145 in coming days, thereafter be prepare for free fll.
Reliance Capital.
Weakness continue and last support 410 which is already broken
on intra day basis. A heavy short position build up in system and looks it will test 385 thereafter 365 in coming days.
Reliance Infra.
Play for short side, Already broken 456 support level will go towards 426 420 mark.
PNB...................
Near to decent support 200 DMA which is placed at 114. break or make situation.
SBI......................
Last support exit 243................thereafter
free fall towards 235 228 mark.
Yes Bank,..........
As we are bearish from the level of 1200 and near to support level 1100-1090, which is also placed at 200 DMA, below this level sustained with volume non stop target 900 +. Sell side.
Indus Bank.....
Read to big fall towards 1000
mark, consider resistance 1070
For Superscription
call 9630466296, 9203901698
www.3mteam.in

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