Market out look 27th Oct 2017
Nifty AbOVE 10250
Buy on dip strategy
Market out Look : October Expiry closed with a decent gained with all time high. Intra day it was made a low 10271, but due to short covering and fresh buying resulted it was managed to closed nearly 10350 mark. Over all trend is bullish and any dip to go long. Short sell should be stock specify.
Technical Out Look
Nifty : Near term support 10300-10310, resistance 10375 thereafter more up side towards 10450
Nifty future : Buy on decline with consider support 10300-10280 range, upside towards 10388 crossover more up side towards 10415 10425 possible.
Bank Nifty Future : Trend is very positive and holding continue 24900, upper side resistance 25287 watch out, successfully crossover more up side towards 25326 25390.
Metal Index : Trend is extremely positive with consider support 3800 and resistance 4000. Any dip to buy, Tats Steel, Hindalco, VEDL and SAIL.
Pharam Index : Decent support nearly 9300 and resistance 9500 9600 watch out.
PSU Bank Index : Over all trend is bullish and big delivery volume seen in last two trading sessions in PSU Bank stocks which is mostly SBI, Bank of Baroda, Can Bank, Bank of India and Vijaya Bank. Trend is bullish any dip to buy side with consider support 3900, today crossover 4085 sharp move likely.
Positive Side :
SBI,, Can Bank, HDFC Bank, HDFC Ltd, IOC, BPCL, HPCL LT, RELIANCE, Tata Steel., BHEL etc
Negative side :
Equitus , HCL Tech, Ibul Housing, Mind Tree and many more.
3M TEAM Research
Call 9630466296-9203901698
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