Thursday, August 24, 2017

Market out look

Market out look
 24th  August 2017
    Pull Back Rally
Nifty Hold 9800  - Short term positive bias
Do not aggressive long side
Mrket Out Look   :   After short term consolidation in market, finally decisively crossover and closed above 9830 and closed above 9850.  However, this is a pull back rally and likely more extension as long as hold 9800 towards 9950 in short term.  As  long these level hold, buy on dip strategy followed and rise to sell side.
Nifty Spot  :       Short term trend is up and holding above 9800 time being good and any decline to buy side, resistance 9880 crossover it will move towards 9945   9950.
Nifty Future  :         Buy on decline wit consider support 9850—9830 range and buy side, for target 9950
Bank Nifty Future  :      Finally holding 23800 and closed above 24300 mark which indicate short term trend have been changed, however, major supply zone ahead which is 24450-24500, decisively crossover it move towards 24750.  Down side break 24250  selling pressure
PSU Bank INDEX  :        Selling pressure likely continue with consider support 3200  and resistance 3300 range.
Metal Index   :    Decent support 3300-3330 watch out, above 3400 more up side.
Long side   :      DHFL,  Bharat Finance, Bajaj Finance, IBUL Housing, M&M Finance, Tisco, lIndus Bank, Bharat Forge.
Short Side :       Cadil Health Care,  Macdowell, M&M.
OI Spurt  in interms of Contract:
Bank of Baroda 1633 short side, Bharat Finance 1594 long side, DHFL 1374 long side, DLF 2126 short covering, ICICI Bank 993 short covering, PNB 1500  short covering, Reliance 822 short covering, VEDL 793 short covering, Axis 452 short covering.
More details call
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