Market out look 10TH Oct 2017
Nifty Resistance 10000 to 10015
Crossover likely new high
Market out Look : Market open with good note but due to some profit booking almost closed near to previous closing which is indicate inductiveness and likely some more time stay around these level and thereafter it will move up side. Over all trend is bullish till not Nifty closed and break below 9680-9700 mark. Over all buy on dip strategy follow.
Technical Out Look
Nifty : Consider support 9950-9940 below it will comedown towards 9900 mark, over all resistance at upper side 10015 and 10060.
Nifty future : Consider support 9950-9960 and resistance 10050, crossover move up side.
Bank Nifty Future : Looks good till not break and closed below 24000 mark, upper side resistance 24500 watch out.
Metal Index : Near to all time high and likely some pause but trend is bullish with consider support 3650-3600 range.
Pharam Index : Over all trend is bullish and almost closed above 9500 mark now up side next resistance 9800, thereafter heading towards 10000 mark and above.
PSU Bank Index : Trend is down, however, at present it is over sold region and some up move can not be ruled out. Time being fresh short avoid. Any short should be some rally.
Long Side : SRF Ltd, M&M Finance, Indus Bank, TVS Motor and Tata Elexi.
Short Side : Amarraja Batteries, PFC, Power Grid.
OI SPURT : : . PC Jewellers 1044, Tata Steel 1695, LT 1336, Reliance 1867, Tata Motor 1198, Axis Bank 1025, Sun Pharma 899, ICICI Bank 2731 and many more.
More details call
Rakesh Sethi
3M Team Research
9630466296-9203901698
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