Equity Market – 27th July 2018

Equity Market –      27th   July  2018 Market Trend  Break out in Nifty to Buy Side………. Closed above 11171  another 200-300 points move non stop.    Expansion of Retracement target 11405. Market are finally made a new high.  Trend is bullish and heavy short covering seen in acreoss the sector.   Bank Nifty shown a good performance and finally break out seen above 27165 and likely test new high 27650 and above in short term.  Only Buy side. Nifty  Spot Momentum continue , today support 11150-11110 and major support 11080, upper side stay above 11200   over all buying in market. 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 Intra day buy o ndecline  at with consider support 11150, upper side sustained above 11200   up side towards 11240 11300  and above. Last week Trend High Low Clos Nifty Future 11074 10932 11025 Bank Nifty Future Trading range 26600  to 27200 watch out. Time to buy above on break out 26200 with stop loss 26000 target 26500 26750,  major support 26600 watch out.   Hold long 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 PSU BANK INDEX Bullish above 2980, up side resistance 3168-3200 and 3228 watch out, down side lower level support around 3000. . 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.  Above 9100    more up side towards 9200  and above.  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. Above 11700  more up side. 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 Some profit booking at higher level.  Resistance  around 3290-3300 watch out at higher level. 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.