Equity Market – 16h July 2018

Equity Market –      16h  July  2018 Market Trend Buy On Dip  - stop loss long 10900-10930 Last  week we have seen strong rally which was almost 250 points from the low, however, due to profit booking on Friday  unable to hold higher level and selling pressure emerged and finally closed at 11020 mark.   However, market given a decent break out above 10929  to 11071.   Over all trend is bullish but last 250 points rally driven by of top 6 stocks and other stocks have not participated, whereas small and midcap stock heavy selling seen.  So type of moment, we can say that it will not continue in long run,  broad based rally with across the sector is looks major bull market, but this rally is driven by few stocks which is operated by vested interest and managed by Index.   So  take a cautious view and any trade should be stop loss.   One study reveals that some FO stocks which is trading  when Nifty was 10600 are stock are below their price at the time of Nifty 11100  which are as under :  ICICI Bank 303-Can Bank 255-SBI – 280-Vedanta 240-Tata Motor 285-Tata Steel -585-HPCL 296-IOC-177-PNB-87-BOB-139-Sun Tv 944-Ashok Leyland 155 LIC 533 . Nifty  Spot Last week strong up move seen in market and nifkty added almost 240   points from the low and closed with a gained.  However, on Friday due to profit booking unable to sustained at higher level.  Overall trend is bearish with consider decent support 10900-10930 and any dip to buy side,  crossover and sustained above 11078 more momentum towards 11100-11171 likely test. Over all trading range 10930 to 11171  in short term, once successfully tradingabove 11200, major break out towards 11400 11500. Last week Trend High Low Close 52W-High 52-Low Nifty Spot 11078 10816 11023 11171 9685 5 DMA 10 DMA 20 DMA 50 DMA 100 DMA 200 DMA 10958 10844 10790 10732 10562 10478 Nifty Future Today intra day decline to buy side with consider support 10950-10960 range and resistance 11030 to 11050 range. Last week Trend High Low Close Nifty Future 11069 10801 11020   Bank Nifty Future As big sell off seen in some of private sector bank  resulted closed below 27000 mark. However, consider support 26750-26800 are a good support and resistance nearly  27200, thereafter major upside towards 27500-27750.   Trading range 26000 to 27200, trade and closed above 27200 upside open towards 27750-28000-28200-28500 in near term. Last week Trend High Low Close 52-W High 52-W LOW Bank Nifty Future 27153 26606 26963 5 DMA 10 DMA 20 DMA 50 DMA 100 DMA 200 DMA 26871 26627 26554 26385 25632 25546 FO QUESQ Highest Put at  10600-10700 Highest call seen at 11000-11200 Pur writing seen-  11000-10900 Call Writing seen at –  ---  11200-11100 Long Side:    Titan, Reliance, Bajaj Finance, Kotak Bank Short side :     UPL – Zee, Axis Bank and Graim   Short Covering  :  Kotak Bank, Tech Mahindra Long Unwinding   :     CAPF CNX PSU BANK INDEX Over all bearish trend with consider resistance nearly  2850-2860  and crossover move towards 2900  +, down  side support nearly  2700-2690  and major spport area is 2650 watch out in coming days. As trading below all term moving average so any rise to selling opportunity. Last week Trend High Low Close 52W-High 52-W Low - 2865 2765 2778 4335 2645 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 2808 2789 2882 2900 3259 Basket of PSU Banks :   SBI –BOB-Can Bank- Indian Bank_ Syndicate Bank, Union Bank, Andhra Bank, IDBI, All Bank, Bank of India. CNX Pharma Index As we are bullish in Pharma Sector and last week, it was made a double top formation and started down ward bias due to profit booking.  However, over all trend is bullish and trading above 100-200 DMA and other long term moving indicate any dip to buy side.  Over all next 2 years will be Pharma  Sector. Last week Trend High Low Close 52W-High 52-W Low 9348 9142 9164 10130 7900 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 9244 9254 8776 8763 9085 Basket of Pharma  Stocks  :  PEL, Divis Lab, Auropharma, Cadila, Dr. Readdy, Sun Pharma, Biocon, Lupin Lab. CNX  IT Over all this sector looks very hot and we have seen in last three  months made a good return.  Trend is very positive and any dip to buy side.  All front line and mid cap IT stocks good and there is no indication to reversal from the current level.  On the chart, trading above all moving average indicate bullish momentum continue and any dip to buy side. Last week Trend High Low Close 52W-High 52-W Low 14665 14141 14535 14654 10388 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 14383 14232 13785 10368 12443 Basket of IT Stocks  -  TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT  Tata Elexi. XNX METAL INDEX Over all trend is bearish and trading below all long term average so any rise to sell side. There is reversal trend seen at current level Last week Trend High Low Close 52W-High 52-W Low 3396 3275 3296 4256 3147 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 3338 3345 3522 3627 3742 Basket of Metal stocks -    Major contricutor – Tata Steel, VEDL, Hindalco, JSW Steel, Coal India, SAIL, Hind. Zinc, NMDC, JSW Steel, NMDC, NALCO. Results Up ated : 16th July   - HUL 17TH July –Ashok Leyland-Zee-Federal Bank 18th July – Ultratech, NIT-Mind Trew-Bandhan Bank, JK Tyre 19th July – Bajaj Finance, Bajaj finserve, Kotak Bank 20th july – Bata-Wipro-LT Finance, Havels, Bajaj Auto, Ceat, wipro HDF Life.  Future Call For Paid clients only Cash Premium For Paid clients only  Cash Market call For Paid clients only  Option Call  For Paid clients only DELIVERY CALL  For Paid clients only POSITIONAL CALL  (New)  . -- ----- .  Updated Positional Call   For Paid clients only