Equity Market – 20h July 2018

Equity Market –      20h  July  2018 Market Trend Tripple top formation  11080   continue resistance.  Holding 10930   bulls continue upper hand.  Market are continue in trading range and   high volatility seen at higher level but unable to hold 11000  mark and finally it was unable to closed a bove 11000 level and closed nearly  10950 +.   Over all trading range and sharp decline to buy side and selling opportunity at higher level.     Nifty  Spot Resistance at  11000  to 11050  and support near 10900-10930  watch out, break down these level lower level target 10880 10850 and 10838   likely. 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 resistance 11050-11080  and higher level resistance continue, down side support 10942-10930-10900  and below major sell off can not be ruled out. Last week Trend High Low Close Nifty Future 11069 10801 11020 Bank Nifty Future Consider resistance  27000  to 27100 whereas the selling opportunity, down side support  26700-27600 watch out, holding bounce back can not be ruled out. 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   10800-11000 Highest call seen at 11100-11000 Pur writing seen-  10900-11000 Call Writing seen at –  --11000-11300 Long Side:    Titan, Reliance,  Bharti, Just Dial, Yes Bank Short side :    Hindalco, Arvind, Cipla and Shriram Transport Short Covering  :   KSCL Long Unwinding   :    TCS, Biocon, Tata Elexi. PSU BANK INDEX Some support at lower level.  2780-2750, resistance around 2850-2880 watch our and reversal to sell side.  Some buying seen in front line PSU Bank stocks. 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  Below 9000   short term trend down.  However, at lower level buying opportunity. 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 bullish trend and decline 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 Highly over sold counter and at that current level, best way to avoid any short sell and lower level to buy side.   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.