Monday, June 5, 2017

Market outlook for 5th June

Market  are  trading in continue positive bias and holding above 9600 which indicate more up  side in coming days.   Over all trend is bullish and looks that loggerd sector likely out perform in coming days like Pharma – Tech- and PSU Banks. – Housing Finance.   So watch out these sector in coming days.
Nifty  : As  mentioned last week that above 9550 strong up move but it will be face resistance 9675 and almost a day high of trading and closed nearly 9650 mark.  However, trend is strong bullish and any decline to buy side with consider support 9580-9575 mark and upside resistance 9715 likely.
Bank Nifty  :   Trend is bullish with consider support 22950   23000 range as long , upper side resistance continue at  23500 and major challenge for bulls in coming days.
PSU Bank INDEX  :   Consider support 3400-3450 , and waiting for further direction.  However,  coming days short covering in PSU bank likely, PNB, BOB, OBC, UNION AND CAN BANK.  SBI   looks sell side.
  SBI   :       Short seen in this counter .
Yes bank  :   Major short covering seen  and we are bullish above 1400.
M&M Finance  :   Our delivery call from the level of 300  and near to our target 400.
Union bank   :  Some short covering seen.
BHEL   :   Looks down ward over and ready to move with consider decent support………….
DLF   :   Now time to buy…..   ready to move due to short covering.
VOLTAS  :  After sharp rise  - long unwinding seen so time to short with strict stop loss.
VEDL   :     Fresh short seen.
RELIANCE   :   Fresh short added.
M&M   -  Long side continue and fresh long added .
LT  :   Short covering seen 

And many more

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