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.
FO QUES :
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
9630466296/
No comments:
Post a Comment