Trading range of Nifty

Trading range of Nifty

9700-9680  to 9850-9830

Break out this range  ready for big move

In either side.

Mrket Out Look   :        Market are continue in trading range, however, some support saw at lower level and almost closed with a positive bias but trend is still remain down. Now time to wait Nifty break out in either side, thereafter  trade.  Till then low volume advised.

Nifty Spot  :       Trend is down with consider support 9680-9700 range and resistance nearly 9830.   Sell on Rally and buy on weakness is a best strategy.

Nifty Future  :         Consider resistance 9800-9830 Reversal to sell side, decent support 9750 watch out on screen.

Bank Nifty Future  :      Bank Nifty are continue in bearish mode and trading below 5 and 10 DMA confirmation of  weakness which is established at 24171 and 24262 till not cross these level do not think any positive bias, at lower level 23800 is a good support, break and stay below be prepare for deeper correction towards 23500-23000 mark easily.

PSUBank INDEX  :        Selling pressure likely continue with consider support 3200  and resistance 3300 range.

Metal Index   :    Higher level selling continue and short term support established at 3325 and it should be not break otherwise over all selling can not be ruled out.

Long side   :    Bata India, Tech Mahindra, DHFL, Apolo Hospital  

Short Side :     Mother sum, Reliance Capital and DLF.

OI Spurt  in interms of Contract:

 DLF 2127  Short side,  Century Textile  920 short side, HPCL 1257 short covering, Vedanta 856  long exit.  Infosys 1312 short side, Fortis Health Care 1252  short covering. HDFC 264  long side, ICICI Bank 468 short covering ITC 1317 short covering SBI 22.80 short side. Reliance Capital 413 short side.

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