Thursday, July 12, 2018

Daily Market trend dated 12th July 2018

Daily Market trend dated 12th   July   2018
   Sharp decline to go long  -
Due to   weakness in global market and further escalation of   China and USA resulted selling pressure in market  however,  our market is still holding support level.  So any sharp decline to buy side.
Nifty Spot :
  Some selling pressure seen at higher level with consider support nearly 10900  and up side trading above 10976, further up move towards 11000  and 11100 in short term. 
Last week Trend
High
Low
Close
Nifty Spot
10816
10604
10772

Bank Nifty Future :
   Today expiry day of weekly so lower level strong bounce back cannot be ruled out with consider support 26700-26600 range, resistance 26900-27000

Last week Trend
High
Low
Close
Bank Nifty Future
26596
26065
26500

FO Ques :
  Highest Put at  10600-10700
Highest call seen at 11000-10800
Pur writing seen-  10800-10900
Call Writing seen at –  ---  11000-10900
Long Side:    Adani Entt. Tata Elexi, TCS, Infosys, HCL Tech, HUL, HDFC Bank
Short side :      Titan and Hindustan Zinc
Short Covering  :  LIC Housing, KTK Bank, and IDBI
Long Unwinding   :     Ujjaivan
Pharma Index :
 Lower level excellent support 9000-9100 range and decline to buy front line stocks for target 9400 9450, once closed above big move likely.
PSU  Bank Index :
   Over all trading range wit consider support 2700 and resistance around 2850  crossover some movement likely
 Happy Trading Hrs.
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With Regards
3M TEAM Research
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