Monday, July 24, 2017

Market out look daily 24th July, 2017

Bulls are upper hand
No Mood to give up
Mrket Out Look   :    Market are continue in bullish mode and always any downside strong buying forces emerged and bears have been trapped.  However, Nifty already moved more than 450 points but  strong buying from Domestic and FIIS are continue in positive side.  As result season continue and concentrate results stocks for money making easily.
Nifty Spot  :   Consider support   9850-9810, resistance 9830, sustained above non stop target 10000 mark. Once sustained above 10000 and closed another round of short covering towards 10200 mark.  Weekly closed above 10000 and sustained above up side towards 11500 in coming months.
Nifty Future  :    Excellent support 9850-9833 and resistance 9920, above time to buy side.
Bank Nifty Future  :   Trend is very bullish and continue closing above 24000  up  side target towards 24300-24500
PSU Bank INDEX  :     Trend is  bullish and holding above 3520 looks positive bias and more up side once it will stay above 3580.
Long Side      :
Reliance Industries, Wipro, Voltas, DR Readdy Lab, Tata Motors.
Short Side     :  
Asian paints, Bharti Tele, HDIL, Arvind Mills HDFC.
Wipro – long side  11000 contracts, Dr Ready – short covering 715, Tata Steel – short covering 101, SBI – short covering 26 lac shares, Tata Motors – short covering 14 lacs, Axis Bank – short covering 31 lacs, Hindalco – short covering 29.90 lacs, ICICI Bank – short covering 38.17 lacs, HUL – long exit 4.04 lacs, Can Bank – short covering 10.60 lacs, Kotak Bank – short covering 9 lacs.
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