Thursday, September 28, 2017

Market out look 28TH Sept. 2017

Market out look  28TH   Sept. 2017


   Last and Final Support of Bull Market
Nifty 9680-9700
Bank Nifty – 23800

Hold some recovery , otherwise sustaineable below down side  target… Open….
Nifty  - 9568-9496-9438-9380-9192
Bank Nifty – 23532-23337-23179-23000
And 22500

Market out Look   :        . As we are continuing writing in this column that FIIS selling continue in market and Funds are not in buying mode and due to some geographical tension market may correct and first support nearly 9680 which is likely test tomorrow.   Over all more than 450 points in Nifty and 1300 points in Bank Nifty wipe out without any pause.   However, short term we are in over sold region and some recovery can not be ruled out with condition it must hold 9680 level.
Technical Out Look
Nifty  :   Consider support     9680-9700  break and trade below down side target 9625-9600-9680 likely, resistance9800-9810. 
Nifty future  :       Trend is down and and we short below 10000 stop loss 10100, yesterday we closed position at 9730 and almost gained 270 points.  As a technical front, resistance 9820 – trading above some positive bias, reversal to sell side.  
Bank Nifty Future :             We continue writing this column 25000-25100 decent resistance and if not cross corrective decline on card.   As we short below 24500 with stop loss 24700 and our first target 23800 have been achieved and we closed position and gained around 700 points.      On a technical side resistance 24100-24200 watch out and below 23700 down side open trwards 23500 23000 mark in short term.
Metal Index    :            Lower level support around 3500-3450 and resistance 3550 watch out.  Do not try to bottom fishing best way to book profit in metal stocks
 Pharam Index     :         Near to support level 9000  and resistance 9300-9350
PSU Bank Index     :        As finally break down support level 3180-3200 weakness continue towards 3000-2900.   Any rise to good opportunity to sell PSU Bank stocks.
  

More details call
9630466296-9203901698

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