Friday, June 8, 2018

Market out look dated 8th June 2018

Market out look dated 8th   June   2018
 Market Trend   :
As expected decent break out seen in market above 10750 and finally it was made a high 10814 and able to closed with a decent gained around 90 points.  However, at higher level some profit booking seen due to sharp rise in last three trading sessions.  Over all market break out trading range and likely to more up side and anydip to buy side.    
Nifty Spot :
Market closed with a decent gained of 90 points on yesterday. We may consider yesterday low 10722 and 10700 are a good support and any intra day dip to buy side, upper side sustained above 10800 – up side open towards 10840 10850

Bank Nifty  :
  As mentioned yesterday above 26500  up side open towards 26800, therafter 26700 but at the first resistance some profit bookingseen towards 26551 and almost wipe out 200 points at higher level due to profit booking.  Over all trend is bullish with consider 26250-26000, resistance 26800-27000, thereafter another 1000 points up move likely. Private Banks looks good and dip to buy side.
  Long Side  :Just Dial,  Indian Bank, Can Bank, SAIL, Tata Steel and Jindal Steel.
Short side :   Voltas, STAR, Godrej Industries, Indus Bank, Pidlite and many more.
Short Covering  :   Tata Motor, Tata Steel, DHFL, Reliance, Axis Bank.
More details and entry level call
9630466296/ 9301302732 

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