Market out look daily 30th August 2017

Market out look daily 30^th  August 2017

    

  Market Ready for break down

Sell on Rallies – Avoid Buying.

Today Break  9775….?

Mrket Out Look   :      Due to geographical tension market turned down and almost wipe out more than 120 points and closed with a negative bias and seen broad based selling in all segment and there is no sector remain positive side.  Till Nifty not cross and closed above 9950 level sell on rise strategy and lower level target open towards 9500 and below in coming days.

Nifty Spot  :     Consider resistance 9850-9860, trading below 9775 selling pressure towards 9740-9710 likely, once trade and sustained below 9700 and stay big sell off in market likely.

Nifty Future  :        Sell on rise strategy with consider resistance  9850-9860 and support 9750 9710  

Bank Nifty Future  :       Holding above 23800-24000  time being continue but facing resistance at 24500.  Once break and trade below 23950 major sell off on the card towards 23700 23500 likely.

PSU Bank INDEX  :       Heavy sell off saw and consider resistance 3350 and support 3200 watch out.  SBI, Bank of Baroda, looks bearish and sell side.

Metal Index   :    Support at  3300-3320 break this range over all selling in Metal stocks.  Tata Steel looks major weakness and selling continue.

Long side   :      No stock visible in long side.

Short Side :        India Cement, Bank of Baroda,  State Bank of India, Reliance Capital and many more.

OI Spurt  in interms of Contract:

  DLF 3684, RELIANCE 1849, INDIA CEMENT 1310, RELIANCE CAPITAL 2266, RBL BANK 5043 SHORT COVERING, SBI 222, VEDL 360 TATA MOTOR 733

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