Market out look 24th Oct 2017
Nifty Break 10200
Bank Nifty - Bearish Zone
Last Support range 23800-23611
Sustained below – Target 20310
Yesterday Low – High very crucial
Market out Look : On Monday market was very volatile and finally able to closed with a gain of 38 points with wide range. Trend is time for consolidation and lower level to buy side and higher level to sell side. A number of Nifty based companies are going to announced result in this week and they will dictate the trend.
Technical Out Look
Nifty : Consider resistance 10200-1250 range and support 10125-10100 range. Lower level to buy side.
Nifty future : Consider likely. support 10170-10150, resistance nearly 10250 crossover and stay above more up side and short covering
Bank Nifty Future : High volatile seen in bank nifty and some recovery were seen with volatile. Today HDFC Bank are goling to announced and likely result will be a trend decider of today trade. We mayt consider support 23800-23900 and resistance 24170 crossover, looks buying opportunity for target 24250 24300 and above.
Metal Index : Metal stocks are continue shining and closed with a positive side. Time being consider support 3800 and resistance 3900. However, some long unwinding seen in front line Metal Stocks so trade with cautious approach.
Pharam Index : Consider support 9350-9400, resistance 9700 crossover and stay above towards 9900-10000 mark watch out.
PSU Bank Index : Trend is down but holding 2900 time being positive bias due to short covering and major short covering seen in SBI, Bank of B aroda, Can Bank, Indian Bank and PNB.
OI Analysis :
Long Side : Hcl Tech, PFX, Reliance, TCS, ICICI Bank and many more
Short Side : HDFC, HUL, Havels, Hindustan Zinc.
More details call
3M Team Research
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