Friday, December 29, 2017

MARKET UPDATE

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    Trading Range Niftt
10400 to  10550
Avoid Big Trade today

Market Outlook
  Market are continue in side way and opened with good note and intra day sharp move but due to  FO expiry profit booking seen in market and unable to hold 10500  and closed below at 10477.  Over all trend is bullish and any dip to buy side.    150 point range in Nifty and time being avoid any trade this range.
Bitcoin
From High 19843 to 13975.  Now time to corrective rally. However, long term trend is very bullish and any sharp panic to buy side.
78.6%  15230, 61.8% 16213, 50% 16909, 38.2% 17601, 23.6%18458    
Nifty Spot
Consider support  10449 – break down these level over all selling in market, resistance at 10500-10510  and major resistance 10550.
Nifty Future
Consider resistance  10530-10550 crossover and stay above it will move upper side, down side support 10490 and 10467.
Bank Nifty Future
Decent support 25350-25400  and resistance 25700-25800  these 400 point range and break out these range will move one side.
PSU  BANK
INDEX
Overall bearishness with consider resistance 3800   and support 3600.  SBI looking bearish and rise to sell side.
Pharma Index
Trend is very bullish with consider support 9500, crossover 9750  up side target 9900-10000.  
Metal Index
Trend is very positive and sustained above 3900    very hot and big move.

OPEN INTEREST ANALYSIS

Long side-   OIL India, OFSS, Titan HUL, UPL, JSW Steel
Short side  :     Hcl Tech
  
  .

Important point
Highest Rollover
JSW Steel   95 % +,  Raymond 95% +, Century Textile   95% +, Dabur   94%
Lowest Rollover
Ramco Cement    52%, GAIL   57%,  Cumins 61% and BPCL 62%.
RELCOM
Last two trading session volume nearly 300 crore shares in Cash Market, FO December and Jan 2018.
GMR Infra
Heavy volume today Cash _ FO  December and Jan 2018    65 crore shares which indicate something cooking in this counter.
Delivery Volume
Sun Pharma     37 lacs,  Aurbindo Pharma 6.88 lacs,  Rel Com – 7.2 crore shares, GMR Infra – nearly 4.85 crore shares.
Highest Put
 Nifty Strike Price   10000 – 10300
Highest Call
Nifty  - 10700-10800-10500  Strike price
Dregging Cor
Time to avoid and if you have book profit.

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