Market out look dated 14th June June 2018
Market Trend :
Avoid Fresh Long and Purchase
Time being market for consolidation
Yesterday market open with good note and finally it was made a high 10893 which is near to previous resistance and at higher level nifty and bank nifty gave up all the gains in last hours of trading before the FED out come. Both indices are nerly all time high but time to wait and watch and consolidation time. Any trade should be clear view of FED meeting and also seen some distribution at higher level by smart investors and operators. Just follow thumb rule of market, whenever everyone are expecting good it will never good and do against the our hopes.
Nifty Spot :
Nifty consider resistance 10890-10900 and 10930 as long as trding below some sort of weakness likely continue, lower level support is 10840 10800 and last and final support of short term 10777 watch out.
Stop loss for long 10694 and as remain above up side open towards 10970 and 11205. Likely.
Bank Nifty Future :
Resistance at higher level continue which is placed at 26750 and any positive bias above that level, down side support 26500 and 26250 watch out.
Consider stop loss for long 25895, as hold upper side open towards 26679, 27590-28225 in coming days.
FO QUES :
Long Side : Dish TV, KSCL, SBI, Dr Readdy NIIT Tech, Cipla, BPCL
Short side : Voltas, SRF, Jubilant Food, ICICI PRU, Voltas and IBUL Housing
More details and entry level call
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