Friday, June 30, 2017

Market outlook for 30TH JUNE 2017

Weakness in Market
Till Nifty Remain Below 9710

Market Out Look   :    On the day of expiry heavy volatility and volume seen in market resulted higher level smart profit booking and Index and number of shares slipped at higher level and unable to hold their gains.    However, some sector like Metal major buying whereas in Banking and Pharma sector profit booking .
Nifty  :       Nifty already broken support level and trading below so, short term trend is down continue. We may consider resistance 9630, crossover it will show power.  Down side support  9480 watch out
Bank Nifty  :     Now next coming sessions 23500-23600 is a big challenge for bulls and bears and support around 23000, break and closed below bear will be upper hand.
PSU Bank INDEX  :        Below 3500  weakness continue towards 3200-3100  in coming days.
PHARMA INDEX   :         Still holding support level with consider 9300 and resistance 9700.
 Some stocks to be watch for Friday Trading :

Reliance                        Sell on rise
Century Textile             Sell on rise
SBI                                 Sell on rise
Axis Bank                      Very Hot
Tata Steel                      Very Hot
VEDL                                       Very Hot
JP Associates                Exit .
GAIL                              Very Hot
India Cement                Very hot    
Bank Nifty Future        Sell on Rise
Nifty Future                  Sell on rise.         

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