Daily Market trend dated 4th July 2018
Market Trend :
Market Bulls Favour - Buy on Dips
Stop Loss long Nifty 10600 on closing basis.
Market are contin ue are in trading range and lower level strong support seen and across the buying seen seen in all sector specially Pharma an , IT, FMCG and finally it was closed with a decent gain of 42 points. On Tuesday market Nifty, Nifty Midcap and Small cap changed their market direction to a rally attempt as both the indices traded about its recent lows for three consecutive sessions. Any dip to buy side.`
Nifty Spot :
Short term trend have been change as holding above 10600 mark. Today we may consider support 10660-10650 range and resistance 10720, crossover it will sow strength towards 10750. And above. Any intra day dip to buy side.
Bank Nifty Future :
Bank Nifty continue supply zone at higher level 26250 to 26500 level and any rise to sell side, on the lower side support visible at 26000-25900 watch out. Some selling seen in all front line Pvt. Banking stocks like HDFC Bank, ICICI Bank, so higher to sell side.
FO Ques :
Highest Put at 10600-10500
Highest call seen at 11000 and 10800
Pur writing seen at 10600-10700
Call Writing seen at – near to strike.
Long Side: Just Dial, KPIT, Cipla, Excide Indus. Dikvis Lab, Ajanta Pharma
Short side : COLPAL, Castrol, HDFC
Short Covering : ONGC, Federal Bank and Jubilant Food
Long Unwinding : JSW Steel, Balrampur Chini and Ultratech Cement
Pharma Index :
Weakness continue and closed nearly 2771. Lower level support watch 2700 where is reversal level to watch out.
PSU Index :
As we are bullish and holding 9000 to long side. Today resistance 9350 crossover towards 9400-9450 and support nearly 9150 .
Happy Trading Hrs.
For Feedback/clarification/querry, simply drop us a mail at : backoffice.3mteam@gmail.com. Cell No. 9630466296 (also available on whatasapp
With Regards
3M TEAM Research
+919630466296 /
Don't be afraid to start over.It's a chance to build something better this time .
ReplyDeletefinancial advisory company