Market out look dated 13th June June 2018

Market out look dated  13^th June   June   2018

NIFTY READY TO SHARP MOVE

Market Trend :

As positive bias in International level of meeting between USA President and South Korea President, resulted sharp move in market and able to closed near to 10850 which is significant bullish and sign and we are ready to test another previous high.  Over all broad based buying seen specially, IT, FMCG, PSU Bank and Pharma sector.  However, some profit booking observed in PVT Sector Bank and Metal stocks.    Over all trend is bullish and looks market short term bottom have been established and ready to fresh market out on the c ard.  So any dip to buy side.          

Nifty Spot :

 As market able to closed above 10800 mark which indicate more up side in coming days. We may consider support nearly 10815 and 10777 as long as hold these level, up side towards 10930 will achieve in short term.  So intra day any dip to buy side.

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

   

Bank Nifty Future :

 As expected holding 26250 and up side get towards 26750 and 27000  likely in few sessions.  Major support 26250-26000 mark.

Consider stop loss for long 25895, as hold upper side open towards 26679, 27590-28225  in coming days.

Sector Index :

CNX Metal   : Some negative bias likely continue with consider  3592 and it must be hold, as up side open towards 3774 3976, down side support 3416 3239.

CNX PHARMA : As we are bullish from the level of 8000 and continue advising to buy and hold front linestocks and last 7 trading sessions almost 10 to 20 per cent rally seen. We may consider strong resistance 9110-9150 range  once crossover and stay above up side towards 9620 easily.  Down side support 7710.

CNX PSU BANK  :  After a long term  decent strength seen in all PSU banks which is lead by SBI.    Higher level major resistance 3300 whereas 200 DMA placed, down side short term support nearly 2890 as remain above target 3134-3299 in near term.

CNX IT  : We are bullish above 10000 mark and tremendous return seen in all IT counters.  Consider support 12039   and remain above up side open towards 13960-14000.

FO QUES  :

Long Side  : Tata Elexi, Just Dial, KPTI, TCS, Divis Lab, SBI

Short side : Apollo Hospital, UPL, Yes Bank, Dalmia Bharat DCB Bank,

More details and entry level call

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