Market out look dated 12th June June 2018

Market out look dated  12^th June   June   2018

Market Trend :

On Monday due to positive on Friday market, open with strong note and almost added another 80 points from the low, but higher level some profit booking seen and resulted market closed with a small gain of 19 points.  On the other hand it was also observed that, some profit booking and there is no buying force emerged in large cap stocks which indicate short term market over and some more down side which is around 100-150 points likely till not cross yesterday high.  On the bankingsector after made a high in future 26660, wipe out all gaines and closed with some positive bias.  Over all selling seen in HDFC Bank, HDFC Ltd, Yes Bank, ICICI Bank, Kotak Bank and Indus Bank. But someshort covering seen in Axis Bank,     

  Strategy  :  Any dip to buy, sharp rise to avoid buy and short sell.     

Nifty Spot :

As market made a high 10850 so time being it will face resistance and remain below some selling likely continue. Today consider resistance 10807 and 10834 whereas support at 10750, break down these level, non stop target 10717-10700 mark easily.  RSI  and MACD both are selling mode.

Highest Call in Strike Price at 10600 and 10700.

Highest Put in strike price at 10600 and 10700

Put Writing seen in   10800-10700 strike price

Strategy : As long as hold 10600  bullish view continue

   

Bank Nifty Future :

 Heavy profit booking seen at higher level, however managed to hold their major support level which is placed at 26250 and as long as hold these level up side continue and any dip to buy side.   Today resistance 10520  and sustained above only first sign of positive bias likely.

FO QUES  :

Long Side  : Godrej Ind. Marico, Bharti, SAIL, Havels, Tech Mahindra, Maruti, RBL Bank

Short side :  Torrent Pharma, Yes Bank, Excel Ind, Castrol, STAR.

Short Covering  :    Maruti, Bharti Tele, Grasim, Tata Motor.

  

More details and entry level call

9630466296/9301302732