Market out look daily 28th August 2017

Market out look daily 28th  August 2017           Market are Consolidation Range Ready for Break out in either side Thereafter 150-200 points move. Mrket Out Look   :    Market open with a good note and smart gained saw in a trading time but closed with a positive bias with a small gained.  Overall trend is bullish but more confirmation once it will trade and sustained above 9950 . On Thursday, heavy buying saw in Pharama  segment due to short covering and some smart money chasing due to available against 30 PE to 12 PE.   Now time to wait and watch first 30 minutes trade and decide your trading strategy. Nifty Spot  :    Over all in  trading range and we may consider support 9800-9810 trading below some weakness towards 9750-9710 cannot be ruled out, higher level resistance continue 9900-9950 thereafter big short covering towards 10150 likely. Nifty Future  :        Consider support 9850-9840 and far support 9800 9810 range, any dip to buy side and further wait for break out in trading range. Bank Nifty Future  :       Holding above 23800-24000  time being continue but facing resistance at 24500, once successfully crossover towards 24750 25000 likely.  Over all trading range 24000 to 24500. PSU Bank INDEX  :       Some smart buying saw in PSU Bank with consider support 3200 and holding above 3300 indicate positive bias towards 3400   mark.  As week of expiry so short covering in front like stocks like, SBI, PNB, BOB, Can Bank, Union Bank and OBC likely.    Metal Index   :      Support continue hold 3327-3300 range and any dip to good opportunity to long  specially front like stocks like, JSW Steel, Tata Steel and Hindalco.  In VEDL  looks some selling pressure so time being avoid. Long side   :       Kazaria  Ceramics, PidLite, Aurpharma, Axis Bak, Grasim. Short Side :       Indigo, Bajaj Auto. OI Spurt  in interms of Contract: Divis Lab  - Short Covering, Aur Pharma 3.25 long added, Reliance 29500 long exit, VEDL 3.71 profit booking, Axis Bank, 15.85 profit booking, Tisco. 7.36 short covering, Rel Capital Short capital, Lupin – Short covering  6.64 lacs, Tata Motor 14.28 short covering, Sun Pharma – short covering. More details call 9630466296