Friday, June 29, 2018

Market out look dated 29th June June 2018

Market out look dated  29th  June   June   2018
Market Trend :
  Nifty finally break down support level 10694 remain below down side target  10530 (100 SMA), thereafter heading towards 200 DMA which is placed at 10440.   Strength will be show only above 10750  on sustaineable basis.
As yesterday break down support level 10750 and 10700 and finally on Thursday it was made a low 10557 andacross theboard selling pressure seen due to FO expiry of June series resulted Niftyclosed with a loss of 90 points.   However, short term market have been entred in over sold zone but some indicator also showing weakness and likely to test 200 DMA in coming days which is placed at 10440 thereafter more down side towards 10182.  Sell on rise strategy continue.
 Remember our stop loss  long  10694 and below we are bearish mode and created short position in Index.
Nifty Spot :
  Finally Nifty break down trading range of last 10 days and closed  at 10589.  Now any rise to selling side and up side continue treat of Nifty   10630-10670 range and major resistance and trend reversal level is 10750.   Once break down yesterday low downside decent support 10500-10520 watch out on today .

Now time to sell side with stop loss 10750-10811, down side open towards 10533 10459 or 10182  possible. Trend reversal only above 10850.

Bank Nifty Future :
    Over all weakness seen and finally closed below their support level 26500 level, however, once major support still hold by bulls which is placed at 259000-26000 range and it should be not break otherwise over all selling in market.
We have seen higher level continue selling pressure and unable to cross and sustained above 26750-26800 range. Now we mayconsider support 26250  and below some weakness towards 26000-25900 whici is a last leg of support level, thereafter be prepare for big fall in coming days. Trend reversal only above 26800  on closing b asis.
Strategy  : Sell on rise strategy around 26300-26350  stop loss 26510 target 26000 and below, closed below down side towards 25450 .
    Highest Put at  10600-10500
Highest call seen at 11000-10800
Thursday, June 28, 2018

Market out look dated 28th June June 2018

Market out look dated  28th  June   June   2018
Market Trend :
 Nifty finally break down support level 10694 resulted selling pressure across the board and closed below   more selling pressure in coming sessions.
As we are continue writing this column upper side resistance visible at 10800 and 10850 and support nearly 10700  which was a trading range of 150 points of last 10 trading sessions and finally it has broken successfully and closed  with a massive loss of 90 points at 10671 .Short term trend have been change due to global ques, strength in Crude and trade war between China and USA.  Over all time to avoid any long side and intra day any rise which is likely happened today trade as FO expiry to descent opportunity to short side.  Avid any long and wait for downside consolidation in near term.   Remember our stop loss  long  10694 and below we are bearish mode and created short position in Index
Nifty Spot :
 As Nifty finally broke down trading range and closed below 10700 mark.  Now we may consider any intra day rally to sell side, with consider resistance 10694 to  10750 which is a major supply zone and decent opportunity to short side, on the lower side down side target open towards 10533 whereas 100 DMA placed thereafter 10432 whereas 200 DMA placed.  Rise to sell side, do not try to long side in Index.

Now time to sell side with stop loss 10750-10811, down side open towards 10533 10459 or 10182  possible. Trend reversal only above 10850.

Bank Nifty Future :
   Bank Nifty Future hwoever, maintained their support level 26250-26300 range and almost closed26427 range but not supported by Nifty.  Sooner or later it will also come down as all front line banking stocks are in bearish mode and yesterday in some selling pressure long unwinding seen in HDFC Bank which is the last bet for Bank Nifty.
We have seen higher level continue selling pressure and unable to cross and sustained above 26750-26800 range. Now we mayconsider support 26250  and below some weakness towards 26000-25900 whici is a last leg of support level, thereafter be prepare for big fall in coming days. Trend reversal only above 26800  on closing basis.
Strategy  : Sell on rise strategy with consider resistance 26500-26540 range and remain below down side open towards 26300 26200-26000 likely
   Highest Put at  10700-10600
Highest call seen at 10900-11000
Call Writing seen at -10800-10700
Up side restriction as per Option data towards 10700-10750
 Long Side:   Auropharma, TCS, Hexaware, Tech Mahindra Mind Tree
Short side :      M&M Finance, Shriram Finance, Tata Motor Marico, Ida, Ashok Leyland, Jet Airways, Indigo Bharti and Hindalco.
Short Covering  :     HDFC Bank, Sun Pharma, Biocon.
Long Unwinding   :   HINDUSTAN ZINC
Selling pressure continue in all PSU bank which is lead by SBI, Bank of Baroda, Indian Bank, Bank of India , Union bank and OBC. Over all selling pressure continue at higher level with consider resistance 2850-2880 range and remain below  down side open towards 2724 and below.   Consider major resistance 3135  till not cross and closed above do not think any revival of PSU Bank stock
As last one month we have seen strong bounce back from the low of 8019 to made a high 9470 and almost double top formation made on chart, however, trend have been changed after a 2 years of lean period and likely 2018 and 2019 will out perform and long term investor can  accumulate front line stocks for horizon of 2 years for decent return say 100 percent above. Further please also remember that on July 2017 we havepredicted bottom out of IT Index nearly 10000 mark and almost 12 month month period it has gained more than 4500 points and likely the same will be repeat in Pharma Index.    So any dip to buy side.
More details and entry level call
9630466296 / 9301302732 

Wednesday, June 27, 2018

Market out look dated 27th June June 2018

Some important trading level of front line stocks
To be watch out before trading decision.

Axis Bank                                Resistance at 522  to  525
Bank Nifty                               Above 26800   bullish
Can Bank                                Resistance 259    260 range
Grasim                                     Reversal seen from support level 1000 – re 1052
HDFC                                                Decent support 1880
HDFC Bank                                       support  2060   2065 range
Hindalco                                  Resistance 227   230
HUL                                         Trading range 1580 to 1650   higher to sell side
ICICI Bank                               Decent support seen at 280
LT                                            Minor resistance 1280 and major  1310
Lupin Ltd                                Hold 880   buy on decline
M&M                                       higher level to sell side resistance 915-922
Reliance Ind                             1000 to 1010
SBI                                          Support 265  resistance 275
Tisco                                        Resistance 560   570 range remain below sell sid
YES Bank                                Strong support 325  to 330
Aurbindo Pharma                    Hold 570   up side target 650 720
BPCL                                       Buy on decline as hold 390
Arvind Ltd                               Resistance 419-420  to sell side
HCL Tech                                 If note trade below 880   up side target 1000
Kotak Bank                             Buy on decline stop loss 1250 target 1400 1500
Tech Mahindra                        Decent support 680
Voltas                                      Resistance 545 to 550 

Market out look dated 27th June June 2018

Market out look dated  27th  June   June   2018
Market Trend :
 Major Field 10680-10700 watch  out
Market are continue in trading zone and moving for the last 10 tradng session and waiting for further direction. Yesterday after opening strength seen which is lead by HDFC and HDFC Bank and some short covering of front line stocks.  Trade according to market trend and stock specify best activity likel.
Nifty Spot :
 Consider support 10730 10700  and resistance nearly 10800-10835-10850

Stop loss for long 10694 and as remain above up side open towards 10970 and 11205. Likely.

Bank Nifty Future :
  Bulls are unable to hold Friday gained and finally it was comedown.   However, we may consider support 26500   and 26450 and resistnace 26750-26800, once trade and sustained above    over all buying likely.
  Highest Put at  10700-10600
Highest call seen at 11000-10800-10900
Call Writing seen at -10800-10900
Put writing seen at 10650-10700
Short Covering  :     JUST DIAL, SUN TV, CAN BANK AND BOI
Long Unwinding   :   HINDUSTAN ZINC
More details and entry level call
9630466296 / 9301302732 
Tuesday, June 26, 2018

Market out look dated 26th June June 2018

Market out look dated  26th   June   June   2018
Market Trend :
   Bears return on street – But Major Field 10680-10700 watch  out .
Now Monday again bulls are unable to carry above 10830 successfully and finally bears seen at upper hand and nifty drag down nearly  10750 and closed with a loss of 59 points.  However, over all trading range which is approximately150 points in the last 11 sessions and  break out this range in either side we can seen 100 to 200 points in sharp.  So till that wait and watch is a best strategy and whenever find out final direction trade accordingly. Remember Trend is your friend and do not try to play against.,
Nifty Spot :
Bulls are back foot and bears are front foot but we may consider decent support range last 10 trading sessions is visible at 10680 to 10700 whereas intra day resistance at 10782 and 10811  crossover and stay above only it will show power, otherwise again selling opportunity. 20 day SMA watch out 10742.

Stop loss for long 10694 and as remain above up side open towards 10970 and 11205. Likely.
Bank Nifty Future :
 Bulls are unable to hold Friday gained and finally it was comedown.   However, we may consider support 26500  +  and holding up side intract.  Major support 25900-26000 range, as long as hold these level , any dip to decent opportunity to long side.
Intra day buy on decline at 26600-26620 with stop loss 26400 target  27000 and above.  
 Highest Put at  10700-10600
Highest call seen at 11000-10800-10900
Call Writing seen at -10800-10900
Put writing seen at 10800-10900
Long Side:   Infys, HUL, HCL Tech, Tata Elexi, BajajaFinance
Short side :      Zee, Tata Motor, ITC, Hindalco, GAIl, Wipro
Short Covering  :     Ajanta Pharma, Biocon, Can Fin Home
Long Unwinding   :   Indian Bank, OIL
More details and entry level call
9630466296 /  9301302732 

Monday, June 25, 2018

Commodity Market up dated 25th june

Commodity Market up dated 25th june

Gold : 30610
Overall side ways and higher level resistance continue nearly  31000 to 31100 range
watch out in near term and reversal to sell side. 

Silver : 39796
Last week selling seen at higher level and support at 39500 below likely more weakness.

Crude 4672
Strong move seen above 457   now consider support 4575  in near term
and buy on decline.

Copper  454
Near to support level and wait for clear direction.

Nickel  :
Able to hold 980 level and sharp move seen  Now resistance at 1060, taken out
successful more up side. 

Natural Gas   199.90
Resistance around 205  think to buy above level.,

Aluminium  148.60
Trading range continue  and avoid.

ZINC  202.35
Higher level to sell side. Break down 195..............

Lead 163.9
Holding 190   overall good and buy side 

call more details 9630466296 / 9301302732 

Market out look dated 25th June June 2018

Basics of algorithmic trading: Concepts and examples

Algorithmic trading (automated trading, black-box trading or simply algo-trading) is the process of using computers programed to follow a defined set of instructions (an algorithm) for placing a trade in order to generate profits at a speed and frequency that is impossible for a human trader. The defined sets of rules are based on timing, price, quantity or any mathematical model. Apart from profit opportunities for the trader, algo-trading makes markets more liquid and makes trading more systematic by ruling out the impact of human emotions on trading activities. 
Suppose a trader follows these simple trade criteria:
  • Buy 50 shares of a stock when its 50-day moving average goes above the 200-day moving average. (A moving average is an average of past data points that smooths out day-to-day price fluctuations and thereby identifies trends.)  
  • Sell shares of the stock when its 50-day moving average goes below the 200-day moving average.
Using this set of two simple instructions, it is easy to write a computer program that will automatically monitor the stock price (and the moving average indicators) and place the buy and sell orders when the defined conditions are met. The trader no longer needs to keep watch for live prices and graphs, or put in the orders manually. The algorithmic trading system automatically does it for him, by correctly identifying the trading opportunity. 

Benefits of Algorithmic Trading

Algo-trading provides the following benefits:
  • Trades executed at the best possible prices
  • Instant and accurate trade order placement (thereby high chances of execution at desired levels)
  • Trades timed correctly and instantly, to avoid significant price changes
  • Reduced transaction costs (see the implementation shortfall example below)
  • Simultaneous automated checks on multiple market conditions
  • Reduced risk of manual errors in placing the trades
  • Can be backtested, on available historical and real-time data, to see if it is a viable trading strategy
  • Reduced possibility of mistakes by human traders based on emotional and psychological factors
The greatest portion of today’s algo-trading is high frequency trading (HFT), which attempts to capitalize on placing a large number of orders at very fast speeds across multiple markets and multiple decision parameters, based on preprogrammed instructions. 
Algo-trading is used in many forms of trading and investment activities, including:
  • Mid- to long-term investors or buy-side firms – pension funds, mutual funds, insurance companies – use it to purchase stocks in large quantities when they do not want to influence stock prices with discrete, large-volume investments.
  • Short-term traders and sell-side participants – market makers (such as brokerage houses), speculators and arbitrageurs – benefit from automated trade execution; in addition, algo-trading aids in creating sufficient liquidity for sellers in the market.
  • Systematic traders – trend followers, hedge funds or pairs traders (a market-neutral trading strategy that matches a long position with a short position in a pair of highly correlated instruments such as two stocks, exchange-traded funds (ETFs) or currencies) etc. – find it much more efficient to program their trading rules and let the program trade automatically.
Algorithmic trading provides a more systematic approach to active trading than methods based on a human trader’s intuition or instinct.

Algorithmic Trading Strategies

Any strategy for algorithmic trading requires an identified opportunity that is profitable in terms of improved earnings or cost reduction. The following are common trading strategies used in algo-trading:
Trend-following Strategies  
The most common algorithmic trading strategies follow trends in moving averages, channel breakouts, price level movements and related technical indicators. These are the easiest and simplest strategies to implement through algorithmic trading because these strategies do not involve making any predictions or price forecasts. Trades are initiated based on the occurrence of desirable trends, which are easy and straightforward to implement through algorithms without getting into the complexity of predictive analysis. The example mentioned above, of using the 50- and 200-day moving averages, is a popular trend-following strategy. 
Arbitrage Opportunities
Buying a dual-listed stock at a lower price in one market and simultaneously selling it at a higher price in another market offers the price differential as risk-free profit or arbitrage. The same operation can be replicated for stocks vs. futures instruments, as price differentials do exist from time to time. Implementing an algorithm to identify such price differentials and placing the orders allows profitable opportunities in an efficient manner.
Index Fund Rebalancing
Index funds have defined periods of rebalancing to bring their holdings to par with their respective benchmark indices. This creates profitable opportunities for algorithmic traders, who capitalize on expected trades that offer 20 to 80 basis points profits depending on the number of stocks in the index fund, just before index fund rebalancing. Such trades are initiated via algorithmic trading systems for timely execution and best prices.
Mathematical Model Based Strategies
Proven mathematical models, like the delta-neutral trading strategy, allow trading on a combination of options and its underlying security. (Delta neutral is a portfolio strategy consisting of multiple positions with offsetting positive and negative deltas – a ratio comparing the change in the price of an asset, usually a marketable security, to the corresponding change in the price of its derivative – so that the overall delta of the assets in question totals zero.) 
Trading Range (Mean Reversion)
Mean reversion strategy is based on the idea that the high and low prices of an asset are a temporary phenomenon that revert to their mean value (average value) periodically. Identifying and defining a price range and implementing an algorithm based on that allows trades to be placed automatically when the price of asset breaks in and out of its defined range.
Volume Weighted Average Price (VWAP)
Volume weighted average price strategy breaks up a large order and releases dynamically determined smaller chunks of the order to the market using stock-specific historical volume profiles. The aim is to execute the order close to the Volume Weighted Average Price (VWAP).
Time Weighted Average Price (TWAP)
Time weighted average price strategy breaks up a large order and releases dynamically determined smaller chunks of the order to the market using evenly divided time slots between a start and end time. The aim is to execute the order close to the average price between the start and end times, thereby minimizing market impact.
Percentage of Volume (POV)
Until the trade order is fully filled, this algorithm continues sending partial orders, according to the defined participation ratio and according to the volume traded in the markets. The related “steps strategy” sends orders at a user-defined percentage of market volumes and increases or decreases this participation rate when the stock price reaches user-defined levels.
Implementation Shortfall
The implementation shortfall strategy aims at minimizing the execution cost of an order by trading off the real-time market, thereby saving on the cost of the order and benefiting from the opportunity cost of delayed execution. The strategy will increase the targeted participation rate when the stock price moves favorably and decrease it when the stock price moves adversely.
Beyond the Usual Trading Algorithms
There are a few special classes of algorithms that attempt to identify “happenings” on the other side. These “sniffing algorithms” – used, for example, by a sell-side market maker – have the in-built intelligence to identify the existence of any algorithms on the buy side of a large order. Such detection through algorithms will help the market maker identify large order opportunities and enable them to benefit by filling the orders at a higher price. This is sometimes identified as high-tech front-running.

Technical Requirements for Algorithmic Trading

Implementing the algorithm using a computer program is the last part, accompanied by backtesting (trying out the algorithm on historical periods of past stock-market performance to see if using it would have been profitable). The challenge is to transform the identified strategy into an integrated computerized process that has access to a trading account for placing orders. The following are needed:
  • Computer-programming knowledge to program the required trading strategy, hired programmers or pre-made trading software
  • Network connectivity and access to trading platforms for placing the orders
  • Access to market data feeds that will be monitored by the algorithm for opportunities to place orders
  • The ability and infrastructure to backtest the system once it’s built – before it goes live on real markets
  • Available historical data for backtesting, depending upon the complexity of rules implemented in the algorithm
Here is an example of how algorithmic trading works: Royal Dutch Shell (RDS) is listed on Amsterdam Stock Exchange (AEX) and London Stock Exchange (LSE). We start by building an algorithm to identify arbitrage opportunities. Here are few interesting observations:
  • AEX trades in euros, while LSE trades in British pound sterling
  • Due to the one-hour time difference, AEX opens an hour earlier than LSE, followed by both exchanges trading simultaneously for the next few hours and then trading only in LSE during the last hour as AEX closes
Can we explore the possibility of arbitrage trading on the Royal Dutch Shell stock listed on these two markets in two different currencies?
  • A computer program that can read current market prices
  • Price feeds from both LSE and AEX
  • A forex (foreign exchange) rate feed for GBP-EUR 
  • Order-placing capability that can route the order to the correct exchange
  • Backtesting capability on historical price feeds
The computer program should perform the following:
  • Read the incoming price feed of RDS stock from both exchanges.
  • Using the available foreign exchange rates, convert the price of one currency to the other.
  • If there exists a large enough price discrepancy (discounting the brokerage costs) leading to a profitable opportunity, then place the buy order on lower priced exchange and sell order on higher priced exchange.
  • If the orders are executed as desired, the arbitrage profit will follow.
Simple and easy! However, the practice of algorithmic trading is not that simple to maintain and execute. Remember, if you can place an algo-generated trade, so can the other market participants. Consequently, prices fluctuate in milli- and even microseconds. In the above example, what happens if your buy trade gets executed, but the sell trade doesn’t because the sell prices change by the time your order hits the market? You will end up sitting with an open position, making your arbitrage strategy worthless.
There are additional risks and challenges: For example, system failure risks, network connectivity errors, time-lags between trade orders and execution, and, most important of all, imperfect algorithms. The more complex an algorithm, the more stringent backtesting is needed before it is put into action.

Market out look dated 25th June June 2018

Market out look dated  25th  June   June   2018
Market Trend :
  Market bounce back from support level 10700
Now crossover  Friday High – strong bullish note and ready for break out.
As market are continue taking support at 10700 whereas highest  put writing and smart bounce back seen on Friday tgrading and finally it was able to closed above 10800 mark on weekly basis which indicate next weekly which is a expiry week looks promosing and likely test 10930 mark.    Over all broad based buying seen in across the sector specially pvt. Sector banking, and pharma and likely continue and advise to buy any dips.
Nifty Spot :
 Nifty turned in bulish trend and dip to decent support observed at  10738 which is a 20 DMA, higher level resistance are continue of 20 day range 10893 and 50 day range is 10930 watch out.  Any tip to buy side.

Stop loss for long 10694 and as remain above up side open towards 10970 and 11205. Likely.

Bank Nifty Future :
    Last week it was menionted in this column that  26200 is a decent support and finally it was a low and strong comeback seen and on Friday smart move resulted made a high 26830 and week to week basis gained almost 600 pounts and almost able to close above 4 weeks high which indicate s trong bullish momentum in next week looking to strong buying and up side break out in ICICI Bank and HDFC Banks and likely both will move towards new high nearly 27750 +.  Now this week we may consider support 26500-26550 range and up side sustained above 26750 gate open towards 27000-27200-27750 likely.
Intra day buy on decline at 26600-26620 with stop loss 26400 target  27000 and above.
   Highest Put at  10700 and 10600.
Highest call seen at 11000 and 10900.
Call Writing seen at 10750-10800
Put writing seen at 10700-10800.

More details and entry level call

Friday, June 22, 2018

Commodity Market up dated 22nd June 2018

Commodity Market up dated 22nd June 2018

Lower level some support seen with consider 30500 and resistance around 30800 watch out.

As we are selling mode below 40500 and almost 1300 points gained. Now time to book full profit
and avoid any  further trading. 

Crude :
As we have predicted our target 4500 have been achieved on yesterday and made a high 4504
now on rise resistance 4575-4600  and reversal to sell side.

Copper : 
Near to support zone, time to avoid any trade 

Nickel :
Lower level some support seen and watch out support 990-980 range
as remain above no problem for bulls.

Natural Gas 
Higher level resistance 207-210 range and likely unable to cross
these levels in near term.

Aluminium : 
Higher level to sell side..... remain below  151    no buy side.

Almost 20 points down from the last week high
near to support level and avoid any trade.

Near to decent support level
which is placed at 160  watch out.

call for more details
9630466296  / 9301302732 

Market out look dated 22nd June June 2018

Market out look dated  22nd  June   June   2018
Market Trend :
  Market are continue in trading range for the last 10 trading sessions and waiting for either side break out.
Book Profit in Pharma Stocks and wait for decline then re-enter agan.
Over all market are consolidation range and at lower level holding support and higher level supply continue in market.  On Thursday market open with good note but unable to hold of early gains and 10800 level and finally due to profit booking and long unwinding specially in Pharma and banking stocks closed with a red and loss of 31 points. As long as holding 10690-10700 we can say bullish view continue and as per Nifty 15 minutes chart higher level resistance continue which is placed at 10808 and 10828, short term up trend will be start above that level.  On the banking front Nifty unable to hold yesterday gain and due to profit booking it has closed below 26500 mark, however still holding above support level and any buying in front line stocks like HDFC Bank and ICICI Bank will spurt, on the PSU bank over all selling in market.   As strategy is that buy on weaknes and sell on strength to follow on Friday trading and and likely some support in heavy weight can not be ruled out.
As in June month heavy buying seen in Pharma stocks but on Thursday heavy profit booking seen across all the forms stocks likely Lupin, Aurbindo, Cipla, Sun Pharma, Dr Readdy Lab, Biocin, Cadila, Ajanta Pharma, Star Phama resulted decreased in open interest and decrease in price and simaultaneously Pharma Index almost closed near to day low which is 9199 and high was 9346.
Nifty Spot :
Nifty are finally in trading range and yesterday it was closed at 10740.  Now we may consider resistance  at 10760 crossover it will move towards 10795 and 10808, down side support 10726 and remain below towards 10710-10700 and remain below over all selling seen in screen.

Stop loss for long 10694 and as remain above up side open towards 10970 and 11205. Likely

Bank Nifty Future :
   As trading range continue and likely more consolidation in few trading sessions. We may consider resistance 26520 to 26550 whereas major supply zone and down side support nearly 26400 and major support 26200.  As long as holding 26200 there is no major weakness on chart.
Consider stop loss for long 25895, as hold upper side open towards 26679, 27590-28225  in coming days.
  Highest Put at  10700 and 10600.
Highest call seen at 11000 and 10800.
Call Writing seen at 10800 and 11000
Put writing seen at 10750 and 10800

More details and entry level call
9630466296 / 9301302732 

Thursday, June 21, 2018

Market out look dated 21st June June 2018

Market out look dated  21st  June   June   2018
Market Trend :
 Bulls finally come back from lower level and Nifty Hold 50 DMA
 On Wednesday market open with some down side gap but lower level strong buying forces emerged across the market which is lead by Reliance Industries and finally it was able to closed above 10750 with a gain of 62 points.  The same story in banking sector which is lead by HDFC Bank , Kotak Bank and ICICI Bank andalmost closed with a decent gain of 300 points.  Inspite of that over all mix trend  see in global market. However, some recovery and stability seen due to out of fever of War trade between China and USA smart recovery .  On the other side, BSE Index also closed with a gain of 261 points. Gains seen in Metal, Auto, Bank, and Financal Stocks  Now at this juncture 50 DMA are decent support have been established and higher level resistance of previous high 10930, once successfully crossover another leg of up side can not be ruled out
Nifty Spot :
  As expected Nifty defend 10694 and 50 DMA and finally it was made a high 10781 and finallyclosed with a decent gained of 62 points. So what next. Further we may consider support 10750 and 10700 range and upper side resistance visible at 10830-10850 which is also a major supply zone and it is not easy task for bulls to permit bears.  So just close eye today this level.
Stop loss for long 10694 and as remain above up side open towards 10970 and 11205. Likely.
Bank Nifty Future :
  As mentioned yesterday Bank Nifty smartly hold 26200  and decent bounce back seen resulted it was able to closed above 26500 mark which is positive sign and clear indicate that it is not easy task to bull will loose their control .  Consider holding above 26500 up side again open towards 26750 and above and major break through once it will move above 27000 thereafter 27750.  On the down side decent support on intra day basis today visible at 26500 and 26381.  Any sharp decline to buy side.
Consider stop loss for long 25895, as hold upper side open towards 26679, 27590-28225  in coming days.
 Long Side:   Titan, Reliance, Tata Elexi, NIIT Tech.
Short side :      Indigo, SRF, LT< Bank of Baroda, UPL, HCL Tech and LT
Short Covering  :    Auropharma, Tata Steel, Sun Pharma, HDFC and HDFC Bank
Long Unwinding   :   Jet Airwas
Big short covering in front line stocks like – Aurpharma 395 contracts, Tata Steel 720 contract, Sun Pharma 984 contract, ICICI Bank  1131 contract, Maruti 1183 contract, HDFC Bank 1851 contract, Yes Bank 2224 contracat , Kotak Bank 1574 contract, SBI 362 contract – Which clearly observed that bears do not want to more short sell this counter and chances of down side is very limited.  
 Highest Put at  10700 and 10600.
Highest call writing seen at 11000 and 10800.
Put writing seen at 10700 and 10800 strike price
Highest Delivery seen in Aditya  Birla Capital of 84 lacs out of 95 lacs in volume.
More details and entry level call
9630466296 / 9301302732