Tuesday, July 4, 2017

Strong Move towards 9700-9720 Crossover rally extended near 9900-10000

Mrket Out Look   :  Strong move in the market and closed with positive bias.  Over all buying seen in Metal, FMCG. Short term trend have been changed and as long as hold previous week low, any decline to buy side.

Nifty Spot  :   Consider last week low 9448 is a decent  support,  today holding above 9625, upper side target 9700-9710 whereas a major challenge for bulls.

Nifty Future  :   Decent support 9580-9590, above 9635  move towards 9700.

Bank Nifty Future  :    Continue holding 23000 mark and yesterday good move.  Now today holding above 23350, up side target 23500, thereafter broad based rally and short covering in banking stocks can not be ruled out.

PSU Bank INDEX  :    After 600 points down, now ready to move, consider resistance 3325, holding above very hot.

NIFTY Pharma Index :    Trend is down but continue holding support level with consider 9300 and resistance  9700.

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