Equity Market – 24th July 2018

Equity Market –      24^th   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. Market are finally given break out and successfully closed above 11080 level which is a numbr of times unable to cross.    Now today above 11080   looks very hot and buy side for new high with stop loss below 11000 mark.   Banking stocks looks very good and ready to blast above 26200 mark.   Only buy above break out or any dip, short sell is danger.
Nifty  Spot	Momentum continue and ready for big move and likely test new high in this week.  Consider support 11060-11010, crossover 11080, up side open towards 11150-11171 and 11200.  Closed above 11200   very very big move. 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 11060-11050, crossover  11120, up side towards 11150-11171 and above. Last week Trend High Low Clos Nifty Future 11074 10932 11025
Bank Nifty Future	Ready to blast with consider support 26900, above 27200  big blast towards 27500-27750-27800.   All Banking stocks looks good and buy side.  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	Highest Put :   11000 and 10900 Highest call seen at 11100 and 11200 Pur writing seen-  11000-11100 Call Writing seen at –  -- Long Side:     Havels, UPL, TCS, Axis Bank, ICICI Pru,  ICICI Bank. Short side :     Bajaj Auto, Hero Motor, HDFC, M&M Finance Short Covering  :    Adani Power, Repco Finance Long Unwinding   :    Just Dial, Indigo, JP Associates
PSU BANK INDEX	Looks good with consider support 2800-2810 range and resistance 2880-2900, once crossover and stay above  overall buying in PSU bank stocks. 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 8850, resistance 8950, crossover sharp move. 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	After made a low of 52 week,s and chart ovr sold counter all front line stocks, so the current level avoid any short sell and next three days short covering 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 :	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.
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