Market out for Monday.

Market out for Monday  …

Over all Market trend  is bullish however time for some consolidation  due to over bought zone in the market.  At present trading range of Nifty 8700 to 8825  once it will be break out or break down range, will move faster, up side it will test 8900 and lower side 8650 8610 possible.  

Bank Nifty also looking positive bias as longas hold 19900-2000, up side resistance continue towards 20400-20500 range once crossover it will test 20650 which is a major resistance zone and likely current rally will be fizzle out at that level.  Any buying should be above would be danger in the market.   Wide trading range  watch 19900 tp 20000, once break 19900 correction will be started towards 19500-19200 ion near term.

Last week Nify, BSE Sensex and Bank Nifty closed with negative bias which indicate all events and maximum result is going to over so profit booking likely continue.    On the Global Front Dow, Nasdaq, and S&P continue showings strength and closed with positive bias.   

Last week, BHEL, TCS, Infosys, Grasim closed with a decent gain, whereas Hindalco, Tata Motr DVR, Dr Readdy and Cipla closed with down side.   As sector wise, IT sector  out perform and able to closed above 10000 mark and further resistance watch out 10600, crossover and stay above it will show more power.

As a stock specify   Adani Ports looking good  on chart as well as major delivery volume seen in this counter so this week likely outperform. 

For Any Querry/Advise Call 9630466296

Have a Happy Trading Day