Market out look daily 10th july 2017

Market out look daily 10^th  july 2017

Challenge for Bulls

Nifty 9720  above target 9950-10000

Mrket Out Look   :  Market are continue in trading range 9600 to 9700  and bulls and bears are continue fight to break or cross this range.  However, over all trend is strong bullish and any sharp decline to buy side.  Results season going to start in next week, so high volatility in July series cannot be ruled out but we think it will remain in positive side.

Nifty Spot  :   Consider support 9600-9580 as long as hold up side resistance continue 9700-9720.  Successfully crossover and stay above big move any long in Index and front line stocks.

Nifty Future  :   Near term support have been established 9600-9610 and resistance 9700.  As long as trading this range, avoid trading time being and wait for further break out in either side.

Bank Nifty Future  :   Trend is very bullish with consider support 23000 whereas high put established and resistance 23500-23700 whereas highest call are holding.  Decisively crossover 23500 non stop target 24000-24200-24500 likely.

PSU Bank INDEX  :    As mentioned earlier  highly over sold and corrective rally likely in near term.  100 points move on Friday trading. Consider support 3300-3310 in near term.  SBI – PNB and HDFC Bank looking very hot and lead the rally in coming days.

NIFTY Pharma Index :Over sold segment with consider support 9300-9400, crossover 9700  and stay above looks major up side in coming days.

Long Side            :   TVS Motors-Reliance-Ceat Ltd HDFC-Godrej Consumer

Short Side            :  RBL Bank-Hindalco-Axis Bank, GAIL,TCS

OI SPURT   :

Reliance 8721,  Bank Nifty 64998, TVS Motor 635, DLF 1425, IDFC BANK 1636, RBL 1242, BOB 1153, HPCL 1228 HDFC 1136, AXIS BANK 1576, ICICI BANK 849, NIFTY 27132, HDFC BANK 660, DR READDY LAB 536, LUPIN -970, PNB-678, SBI 1314, TATA MOTOR 868.

Our Positional Call :

SBI  - Buy at 272 stop loss 268 target 285  290

Luin Ltd – Buy at 1080 stop loss 1070 target 1140-1150

Shriram Finance – Buy at 1030 stop loss 1000 target 1100-1130

PNB – Buy at 140 stop loss 135 target 148   150

Ujjaivan   - Buy at 300 + stop loss 290 target 330 334

Reliance Ind – Buy at 1420 stop loss 1400 target 1480-1500-1550

DLF – Buy at 190 stop loss 185 target 205 thereafter

Equitus  - Buy at 150 – stop loss 146 target 162

Option Call :

Buy Reliance Ind 1400 all at 40 + target 80-100   achieved

Buy Nifty – 9600 call at 100-105 stop loss 85 target 150