Market out look 5th Oct 2017

Market out look  5^th Oct  2017

  Nifty Above 9850

Corrective rally continue in market.

Market out Look   :        As expected status quo maintained by RBI resulted some buying seen at lower level and finally ablve to closed above 9900 mark which indicate short term trend have been changed above 9850.  Take advantage of rally and avoid big open position  over night. 

Technical Out Look

Nifty  :    Consider support 9850-9800, resistance 9950 and 9990-10000 watch out.  Holding above9890 up side target open towards 10100-10140.

Nifty future  :      Short term trend is up with consider support 9850, above 9960 up side gate open towards 10000-10050.

Bank Nifty Future :         Down side support established at 24000-23900 range and upper side resistance 24300-24500.

Metal Index    :            Metal Index continue performing well with consider support 3500-3510 range and resistance 3610-3650 watch out.

 Pharam Index     :         Trend is positive bias continue with consider support 9100-9000 range, resistance 9450, thereafter more up side towards 9600 9700 9800.

PSU Bank Index     :        Consider support 3000, resistance 3100, crossover some up side.   PSU Bank looks short term bottom out but more confirmation awaited.

Long Side  :     Torrent Pharma, BATA Ltd, Petronet, Havels, BPCL, HPCL and many more.

Short Side :  Apollo Tyres, Mothersumi, dish TV, SRF, Tata Elexi and ICICI Bank.

 OI SPURT :  :    Bata 4.11 long side, Apollo tyres 19.56 lacs short side, Havelles long side 300, Kotak Bank  longside, Sun Pharma 4.12 long side, Yes Bank 1.52 long side, Reliance long side 10.25 lacs, DHFL 14.66 long side.

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