Monday, July 3, 2017

Time for consolidation

Mrket Out Look   :  Market are continue in trading range  and  waiting for further break out in either side, However, chances of lower side is very remote.   Sooner are later we may seen up side.  However, at current level fresh short sell  should be avoid and intraday dip to buy side.
Nifty Spot  :   Consider last week low 9448 is a decent  support, weakness only below once break down with volume, higher level crossover 9550-9575 will move further, reversal to sell side.
Nifty Future  : Buy on decline with consider support 9450.
Bank Nifty Future  :   After break down 23500 weakness continue and any fresh up move only above that level, down side support 23050-23000 watch out.  Looks some short  covering in PSU Banks stocks.
PSU Bank INDEX  :   After sharp decline from 3900 almost correction 20 percent so at current level fresh short avoid and short covering on the card in front line PSU bankingstocks.
NIFTY Pharma Index :    Trend is down but continue holding support level with consider 9300 and resistance  9700.
 F&O Data Analysis
Long Side                       :   ITC, OBC, Motherson Smi, BEML
Short Covering    :        Tata Steel, Aditya Birla
Short Side            :         Indigo, Jet Airways, IBREAL, LIC Housing, JP Ass.

Highest Call         :         9700  Strike – Major resistance
Highest Put                   :9400  strike  -Major Support
Open Interest Spurt  :
Aurbindo Pharma           1083
Axis Bank                       1038
BPCL                               -840
BOB                                 415
Century Textile              536
DLF                                 1547
Hindalco                           1529
ICICI Bank                         2551
SBI                                  2497
Telco                               2220
Tech Mahindra               1108

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