Thursday, June 1, 2017

Market outlook for 1st June 2017

Market are volatile but trading in  positive bias and able to closed above 9600 mark.   Any decline to buy side and looks that small and mid  cap stocks ready to fire in coming days.  However, front line Pvt. Sector banking stocks more promising and remain buy side.
Nifty  : Time being 9580-9550 decent support , resistance 9675  crossover it will show more power towards 9700   9715 range
Bank Nifty  :   Trend is bullish with consider support 22950   23000 range as long , upper side resistance towards 23500, once crossover and stay above big move.  Prviate sector bank  very hot like ICICI Bank, Axis bank, HDFC Bank and many more
PSU Bank INDEX  :   Consider support 3400-3450 and any decline to buy side.
 ICICI Bank   :  very hot and almost volume in terms more than 11 cores and out of that 9.41 crore volume trade in delivery based which is almost 80 per cent of traded volume . As MSCI increased weight age so big move in coming days can not be ruled out.
GRASIM   :  MSCI  also increased weightage resulted 10 times volume against average volume and around 63 lacs have been took over by delivery based.
IOC  ..  Heavy buying seen delivery based which is around more 1.10 crores… so any big move can not be ruled out in this counter.
GAIL   :  Very hot  and big delivery volume around 62 lacs indicate major upside in coming days.
PNB   :   Delivery volume seen  with added open interest bombination.
IRB  :  Down ward is over and likely to big move. Substantial correction from the level of 272 to 220 in bull market is over.
JET AIRWAYS  :  Short covering seen in this counter.  We are bullish.
ARVIND LTD   :  Now time to correction is over and ready to move.
ZEE  :   Good short seen
HDFC   :   Big short seen by way of 2018 contract.
CAN BANK  :  Counter  short seen by way of 778 contract.
SUN PHARMA  :  Do not think any bottom out, fresh short added by way of 6045 contract.
VEDL   :    After result profit book and fresh short added by way of 1367 contract. 

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