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 . FO QUES  :     Highest Put at  10600-10500 Highest call seen at 11000-10800