Market out look 13th Oct 2017
High Volatile Market
Over reacted market due to planned way
Whereas other world market silent.
Crossover yesterday high and hold
Prepare for new high.
Nifty Above 10200 target 10500 10700
Market out Look : After sharp decline and big jerk market almost recovered but over all indicate that our market are pre mature and any bad news or planned news reacted sharply whereas to jerk in other world market. Now we request to SEBI please attention this matter. Heavy buying and short covering resulted market closed above 10100 mark and looks that buying flow continue in market and we are heading towards new life time high. Once weekly closed above 10200, minimum 300 to 500 points rally on the card. (Trading range 9700 to 10200 for a long time)
Technical Out Look
Nifty : Consider support 10060-10050 and any dip to buy side, above 10100 on sustainable basis up side towards 10143-10178. Major resistance 10200, thereafter big move likely.
Nifty future : Consider support 10074 and far support 10050 for any long position in Nifty Future. Crossover 10120 up side towards 10180 and 10200 likely.
Bank Nifty Future : Smart bounce back and previous day losses almost covered and managed to hold 24400 mark. Now consider support 24200-24250 and resistance exit 24120m crossover 24500-24611-24750 posibile.
Metal Index : Sharp come back from the lower level and major gainer of Hindalco , JSW steel. Now decent support 3650=3600 range and crossover 3750 and sustained above big move can not be ruled out.
Pharam Index : Trend is positive bias likely continue as long as remain hold 9300, up side resistance 9500-9600 .
PSU Bank Index : Trend is down but over sold market and number of stocks trading near to recent low which indicate short term up side likely. We may consider support 2950 and resistance 3050 watch out. Can Bank, SBI, Bank of Baroda, Union Bank, PNB good opportunity on both side. On weakness to buy and sell on resistance level.
Long Side : NBCC, Hindalco, TCS, Indus Bank, Reliance and Tata Motor
Short Side : PFC, Grasim, Bank of India and OBC,
More details call
3M Team Research
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