Market update

Market Trend  After sharp rally in Nifty   1100   points and Bank Nifty more than 2000   points and before the big event market likely pause and advise to avoid trading in Index in next two trading sessions.  Market will take direction after Union Budget  and trade accordingly.    Any trade should be strict stop loss and low volume advised. As the weakness in USA market,  our market also open with down side gap .  First 30 minutes do not jump to buy and sell, stable in market and trade only for intra day.

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Nifty  Spot Decent support 11000  whereasthe first sign of weakness likely.   On the higher side resistance 11150-11200  watch out and major up move and buying opportunity only above that level.   If break and sustained below 11000  and any negative in Budget proposal non stop target of Nifty  10500  + in month of Feb 2018 itself.   So hedge your position by way of put and selling call. Nifty Future Intra day any rise to sell side. Consider resistance 11100-11125,   support 11050  below moreweakness. Bank Nifty Higher volatile market and higher side call writing seen which indicate up side is very limited in next two trading sessions.   However, 28000  highest call holdwhich is a resistance area and support nearly 27000-27100 watch out.

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Important Levels of Result Stocks ICICI Bank… weakness below     350, resistance 360-364  - above it will show power. LT   - Decent support 1370   1375 – able to hold up side   open towards 1400   1450 VEDL  -  Major support 328-330   it must hold,  up side open towards  370 Arvind Ltd…  Lower level support 400-405  ,  around that level to long side. JSW Steel….. decent support  270-275   (weakness to long side) Relinace Infra  -  Resistance 530-535,  break down  500  free fall……. Equitus Ltd….  Something cooking   support 145   140  resistance    158   160