Market are continue in profit booking before the fed rate meeting and closed below 9600 which indicate short term profit booking in the market. However, we can not see major down side and likely reversal from the level of 9500.
Nifty : Now we may consider decent support 9560 below towards 9520 9500, resistance around 9600=9620.
Bank Nifty : Finally break down support level and trading below 23500, now consider support 23300 and 23251.
PSU Bank INDEX : Consider support 3450-3500 range and still holding. Closed below 3400 panic situation can not be ruled out.
PHARMA INDEX : As we are continue written in this column do not short sell and above 9300 strong bull hand and almost added 400 points. Remain long side, do not think any short side.
SOME IMPORTANT POINTS TO BE WATCH OUT
Long side :
DLF JETAIRWAYS
Long exit :
KOTAK BANK, HDFC, TITAN AND BANK OF INDIA
Short covering :
INDIGO HDIL, UJJAIVAN AND INDIAN BANK
Short build up :
BIOCON EQUITIUS APOLLO HOSPITAL, PNB, GAIL, ALL BANK
RBL BANK AND MANY MORE.
OPEN INTEREST SPURT : NO. OF CONTRACTS
DLF 1791
AUR PHARMA 2981
RBL BANK 1280
PNB 1166
DHFL 914
YES BANK 1495
LUPIN - 362
ICICI BANK 1124
HDFC - 422
HPCL - 993
BPCL - 782
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