Market out look daily 11th july 2017

Nifty Closed above 9710

Up Move Continue

No Short Sell Ida

Heavy Short Covering

Mrket Out Look   :     Nifty finally break out trading range and closed above 9710 with decent gained.   Now up move continue and likely Nifty will added 150 to 200 points in coming days.   Over all short covering also seen in the market specially Banking and front line stocks. Trend is extremely positive and remain long side.

Nifty Spot  :   Consider support 9700-920, resistance 9800  crossover more up side.

Nifty Future  :   Any intraday weakness to buy side with consider support 9650 and resistance 9800 watch out.

Bank Nifty Future  :   Trend is very bullish  and hold long side with consider support 23500  +.   Up side resistance 24000 .

PSU Bank INDEX  :    As mentioned over sold region and finally closed with decent gained 3480.   Above 3500   more up side.  

NIFTY Pharma Index :   As we are continue writing in this column above 9300 bullish and more bullish above 9700.  We are positive and long side, Aurbindo Pharma, Sun Pharma, Divis Lab, Dr Readdy Lab.

Long Side            :   Can Bank, Bharti, OBC, Indus Bank, TCS

Short Side            : SRT Finance, IDFC, Repco Finance, Biocon

Heavy Short covering in following stocks :

Tata Motor 11.79 lacs, Axis Bank 9.13 lacs, OBC 5.70lacs, Union Bank 27.44 lacs, Bank of Baroda 31.80 lacs, Sun Pharma 21 lacs, SBI   46 lacs, PNB 60.58 lacs   and many more.

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