Friday, September 22, 2017
Market out look  22nd  Sept. 2017


  Trend is Bullish
But Resitance – 10180-10200

Market out Look   :       Market are continue in trading range but unable to crossed major resistance level and heavy selling seen during the market hours and made a low 10058 but managed to closed above 10100 mark.   However, trend is bullish till Nifty not closed below 10000 mark, higher level selling pressure likely continue.  Yesterday, Pharma sector again in lime light, but selling seen in Banking, FMCG, IT and Metal segment.
Technical Out Look
Nifty  :   Consider support   10050, trade and sustained below selling pressure,    higher level  resistance continue towards 10140-10170-10200 range.  Successfully crossover 10200  major upside towards 10300,   Over all view of Nifty is positive as long as stay above 9970-10000 mark.,  
Nifty future  :        Long term trend is up but short term trend is down. Now consider resistance 10170-10180  reversal to sell side.
Bank Nifty Future :          Over all trend is positive and ready to test new high but at higher level choppy ness continue and major selling were saw in the market.  Upper side till not cross 25050-25080 level sell on rise strategy continue.  Down side support 24800 watch out, break and closed below, be prepare for deeper correction.  On the upper side above 25100, expect rise towards 25400 25500 mark.
Metal Index    :           Holding above 3600   overall looks good and resistance continue towards 3700
 Pharam Index     :         Trend is very bullish and over all buying seen in all pahrma stocks.   ON the other it is also managed to hold 9300 and closed above 9600,  looks buying move continue towards 9900-10000 mark in coming days.
PSU Bank Index     :     Decent support around 3200 watch out, resistance 3300-3310 watch out.

OPEN INTEREST ANALYSIS :
Long side  :        Trend Ltd, Ajanta Ltd, Wockhard, TCS, Tech Mahindra
Short Side  :       Yes Bank,  Indigo, Telco, Reliance Capital, ACC, ACC, Voltas, ICICI Bank.
 OI  SPURT          Torrent pharma long side 307, Wockhard long side 2.84 lacs, Dr. Readdy  short covering 1.54 lacs, ICICI Bank, short side 7.967 lacs, Tata Motor short side 7.42 lacs, Tisco, short covering 4.44 lacs, Century Textile short covering 12.93 lacs, SBI short side 32.58 lacs, HPCL short covering 7.10 lacs, BPCL, short covering 4.69 lacs   ACC short side 38800. Ajanta Pharma long side 1.11 lacs

More details call
9630466296-9203901698


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