Market Outlook
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Today market are open with good note and whole the day whold 10440 mark and last one hrs strong buying forces due to move in Bank Nifty and able to closed 10500 mark. Over all broad based buying seen in market and ready for fresh up move in new year.
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Crypto Currency
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Buy Ripple, Etherum, Dash . Avoid Bitcoin.
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Nifty Spot
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Bullish view with consider support 10500, crossover 10513 over all buying towards 10550-10560, thereafter power ful recovery in market.
Major support 10300 whereas highest put hold.
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Nifty Future
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Intra day dip to buy side with consider support 10500-10480. Crossover 10560 and stay above non stop target 10600 10610 likel.
Major support Jan -2018 -10391 – below only weakness.
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Bank Nifty Future
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Consider support 25300-25350, resistance25700 crossover over all buying and short covering in market. Any dip to buy side. Continue under perform against Nifty but ready to move.
Major support of Jan – 24800 – till not strong b ullish and likely test 26000-26500 in jan 2018.
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PSU BANK
INDEX
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Strong recovery seen in all PSU bank due to infusion of funds by the govt and almost gained more than 100 points and closed nearly 3720 mark. Upper side multiple resistance on chart which is placed at 3800-3850 mark. However, major short covering seen in SBI, PNB< Bank of Baroda. Avoid Mid cap banking stocks and try to exit whenever get opportunity.
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Pharma Index
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Trend is very bullish and lower level buying opportunity likely continue with consider support 9400 and up side open towards 10000 mark Dr Readdy Lab, Sun Pharma, and Aurbindo Pharma looks good.
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Metal Index
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Big move and almost closed all time high and index closed above 4100 mark. Very Hot Tata Steel, JSW Steel, VEDL, Hindalco and many more.
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OPEN INTEREST ANALYSIS
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Long side- IDBI, Jain Irrigation, Jindal Steel, Cmins, Titan, ACC M&M Finance, Ambuja Cement, SBI PC Jewellers, Titan.
Short side : Apollo Hospital, BPCL, Eicher Motor, IGL, Bharat Forge.
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Important point
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Relcom
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Any dip to buy side .
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BOB
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Short covering continue.
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PNB
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Short covering continue.
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Maruti Ltd
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Now time to cool off and at lower level accumulate in small lots.
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DHFL
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Ready to fly…..
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Century Text.
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Ready to Blast.
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Sun Pharma
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U Turn from weekly level 562………….
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Dr Readdy lab
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Ultimate target 2700 + buy on decline with stop loss.
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Grasim
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We are long 1135 - Heavy short covering yesterday.
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Rel Infra
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Ultimate cross 620 + in coming days.
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DLF
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Ready to move.
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HDFC Bank
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Some weakness but lower level to buy side.
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Bank Nifty
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Heavy long seen and almost added 1.56 lacs shares.
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Eicher Motor
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Selling continue and fresh short seen.
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Great Post of Market Outlook Thank you so much sharing for informative valuable post. I really love to read such a nice article. Thanks! keep rocking.
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