Wednesday, May 30, 2018

Market out look dated 30th March :

Market out look dated 30th March :

Trend is short term down....
Nifty Resistance - 10700-10735
Bank Nifty - Resistance 26250.............

After sharp rise in rally in last three trading sessions, it was expected that due to FO expiry week, market will take pause and profit booking resulted it was made a high 10719  whereas the big resistance nearly 10735 which is 61.8% of this corrective rally and finally it was closed nearly 10655.  Over all short term trend is down and profit booking continue in market.  As a next two days remain FO expiry so high volatile on card and take stock specify . 

Nifty  : 

Downside support 10570-10600 Upside Resistance 10700-10720  . As long as remain below 10700-10735, selling pressure towards 10600 10555-10500 can not be ruled out.
Highest call stood at 10700, followed by 10600 so this is resistance in next two trading sessions, whereas highest put hold 10500, so this is a support visible in ner term.   Trading range in next two days watch out 10500 to 10700.  Sell on rally and near the support area to buy side.

Major support 10500  - Closed above 10735  - up side open 10930. 

Bank  Nifty  : 

Downside support 25900-26000,  Upside Resistance 26400-26500.  Closely watch 25900-26000 level  break and ustained below towards 25500. Major selling and long unwinding seen in HDFC Bank, ICICI Bank, Kotak, Indus Bank

Long Side   :  M&M, Tata Power, Bhel, LT
Short Side : Just Dial, Indigo, Bharat Forge, Coal India

Highest Call  ;  Strike Price 10700 and 10600

Highest Put  : 10500............

 Happy Trading
Call   9630466296  / 9301302732 


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