Market out look dated 5th June 2018

Market out look dated 5^th June 2018

As last two trading sessions Europhilia was raised about HDFC Bank and buying in bulk quantity resulted Bank Nifty sharp moved on Friday and Monday and almost made a high 26900  but once Europharia was over sudden profit booking  across all sectors and resulted Bank Nifty was down 700 points from the high and Nifty more than 150 down of days high.   These spread looks by vested interest by some group of persons and resulted small investors have been trapped.  If HDFC Bank buying order in Monday so why not substantially move on Friday .     Monday trade pattern indicate that short term trend is down and some more selling pressure in market and in a chart made a bearish single.  However, market are still is trading range  whereas highest put are hold at 10600 and followed by 10200, whereas calls hold  highest open interest at 11000 and 10700 strike price.   Now time being avoid any long side and locate opportunity to short side with stock specify.

Nifty Spot :

As on the days high 10770 it was come down substantially and finallyclosed at 10628 with a loss of 70 points.  Short term we may consider trend is down with consider resistance nearly 10680-10700 and support is visible on option data is 10600 and decisively break through resulted selling pressure towards 10550-10500 also possible.

Bank Nifty  :

Sharp rally seen due to HDFC Bank and once cool off  sharp selling also seen in all banking sector i.e. Public and Pvt Sector.    Now Bank Nifty near to decent support zone 26200 whreas simple moving average are established and resistance nearly 26500, downside support 25900-26000 watch out. Break these level with volume and added open interest substantial decline can not be ruled out.

Some Interesting FO Ques :

HDFC Bank  :  Heavy selling and profit booking seen resulted short added 14 lacs shares.

TVS Motor : fresh short added 8.53 lacs

Bank of Baroda : Fresh short added 40.84 lacs shares

DHFL  :Fresh short added 4.75 lacs

Reliance : Major short covering seen around 16.70 lacs, June will be promising.

VEDL   : Long exit seen 16.22 lac

HDFC Ltd  : long exit 4.41 lacs

ICICI Bank  : Long exit 5.258 lacs

YES Bank  : some short coveringseen 3.16 lac

IBUL   : Long exit and fresh short seen.

Century Textile : Some short covering seen

KotaK Bank : Long exit seen

Jet Airways : Some long side

PC Jewellers :  Major short seen.   

More details and entry level call

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