Equity Market – 23rd July 2018

Equity Market –      23rd  July  2018 Market Trend Market ready for break out of Trading Ranger 10930 to 11080.  Once closed above 11200  - big rally towards 12000  mark in coming days. As market are continue in trading range but strong support seen at lower level and broad based rally seen in market.  On the positive side Modi Govt  win a No Confidence mossion in Parliament, which fire the rally in market.  Over all trend is extremely bullish and any dip to buy side, on the positive front once nifty trading above 11080   time to long with stop loss.  Remain buy side.      Nifty  Spot Strong momentum seen on Friday from a lower level.  We may consider support nearly 10990-10960, once crossover and stay above 11030, upper side gate open towards 11080 which is a supply zone and time to watch this level because number of times it has face a selling pressure. Over all trading range 10930 to 11080-1171.  Closed above 11200  major bredak through in nifty towards 12000  mark easily.   Last week Trend High Low Close 52W-High 52-Low Nifty Spot 11030 10926 11010 11171 9685 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 10978 10968 10756 10589 10507 Nifty Future Over all trend is bullish with consider support 10950 and 10930, upper side crossover 11045, over all buying in market towards  11100  and above. Last week Trend High Low Clos Nifty Future 11074 10932 11025 Bank Nifty Future Some support seen at lower level, with consider support 26800-26900, upper side resistance 27150-27200, successfully crossover upper side towards 27500-27750 likely. Last week Trend High Low Close 52-W High 52-W LOW Bank Nifty Future 27233 26690 26929 5 DMA 10 DMA 20 DMA 50 DMA 100 DMA 200 DMA 26906 26888 26656 26465 25719 25618 FO QUESQ ..................... PSU BANK INDEX Over all trading range continue with consider support 2750-2700 range and upper side major resistance 2280  watch out and successfully crossover smooth run can not be ruled out. Last week Trend High Low Close 52W-High 52-W Low - 2840 2737 2802 4335 2645 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 2772 2790 2874 2881 3252 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 Over all trend is bullish , however, after sharp rise and made a high near to 9450  sellilng pressure seen but already corrected substantially 500 points from the high so  any dip to buy side.  With consider support 8700  and resistance nearly  9080 to 9150 watch out in near term.   Last week Trend High Low Close 52W-High 52-W Low 9132 8725 8895 10130 7900 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 8848 9047 8797 8757 9077 Basket of Pharma  Stocks  :  PEL, Divis Lab, Auropharma, Cadila, Dr. Readdy, Sun Pharma, Biocon, Lupin Lab. CNX  IT Over  all bullish  view and trading above all long term moving average indicate up move continue.  Last week, it was made a high again so any dip to buy side in front line IT stocks. Last week Trend High Low Close 52W-High 52-W Low 14771 14420 14701 14771 10388 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 14611 14500 13903 13465 12542 Basket of IT Stocks  -  TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT  Tata Elexi. XNX METAL INDEX Over all bearish trend and last week it was again made a low of 520 week.   Any rise to sell side.  However, all stocks are entered in over sold region so at the current level bounce back can not be ruled out. Last week Trend High Low Close 52W-High 52-W Low 3288 3062 3092 4256 3047 5 DMA 10 DMA 50 DMA 100 DMA 200 DMA 3141 3240 3468 3585 3732 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 : 23rd July – ACC, Macdowell, Hind Zinc and Granules 24th July –Asian Paints, Hexaware, ICICI Pru 25th July –Tata Elexi, LT, JU Food, JSW Steel, Ambuja Cement, KPIT, BEL, OBC, Hero Honda, Can Bank 26th July – Yes Bank, Maruti, Dr. Readdy Chola, bioco, bharti Tele, CESC, ITC, petronent, COLPAL, Shriram Transport Finance 27th Uly  ICICI Bak, HCL tech, BOB, Equitus, M&M Finance.