Monday, July 30, 2018

Equity Market – 30th July 2018

Equity Market –      30th   July  2018
Market Trend
 Break out in Nifty to Buy Side……….
TODAY Reliance and ICICI Bank Result will play market.
Closed above 11171    move non stop.    Expansion of Retracement target 11405 thereafter rally towards 12392.  Major support area 10900 to 10930 rabge,
Market are finally break out trading range and  made a all time high once again after gap almost 7 months.  Trend is still bullish and  last week over all broad based rally seen in market and participated across the sector including PSU Banks and other sector which is laggerd in some time.  So take advantage of this rally and intra day any dip or consolidation to best way to buy side.  Short sell is a danger and avoid any carry short position as we are entered in a new bull orbit and upper side no limit. Mainly concentrate results stocks where as a lot of momentum seen.
Nifty  Spot


Nifty is finally break out above 11180  and last week made a high 11283 and non stop rally seen almost 200 points as we have written in this column number oftimes.  Over all trend is bullish and this rally first target towards 11405 and 11500   likely in this week or month. However, as long as stay above 10900-10930  any dip to buy side for target  12000  and above in coming months.   Last week good buying seen in Small Cap and Mid stocks and likely continue.  In this week we may consider support nearly 11200 whereas the highest put is stood which is 21.64 lacs and at 11500 strike price highest call are stood ie. 27.58  lacs shares so in the month of August 300 points trading range anddip to buy side.
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
11283
11010
11278
11283
9685

5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
11160
11068
10800
10626
10537
Nifty Future

We long above 10980 and advised to more long above 11180 for target 11400 which is short of only 100 points.  In this week 11200  is a trend decider level and lower level support nearly  11125 and 11080, upper side resistance continue 11400-11500 in near term.

Last week Trend
High
Low
Clos
Nifty Future
11313
11009
11307
Bank Nifty Future

As we are bullish above 26500 and number of times  written that above 27200   buy open qtry for 500 to 1000 points and likely test new life time high and last week it was made a new high supported by all Pvt Sector banks and PSU Banks due to short covering, and fresh long seen.   Over all bullish view as remain above 27500 and up side open towards 27750-28000 mark easily.  As High call stood 27500  at 4.56 lacsa and 28000 call at 6.49 so near term this target is visible. On the lower side highest put base established at 27200  which is approximately 5.77 so near term it will work as a support level.
In this week two events on the card i.e. RBI monetary policy and FOMC meet so traders are advised to any long should be hedge or trailing stop loss.   Above 27500  open towards 28000.
Last week Trend
High
Low
Close
52-W High
52-W LOW
Bank Nifty Future
27660
26766
27639
27660


5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
27210
27028
27565
27028
25666
FO QUESQ
Highest Put  - 11000-11200
Highest call seen at  11500-11400
Pur writing seen-   11200-11000
Call Writing seen at  11700-11400
Long Side:    Ajanta Pharma-BPCL, Rel Capital Axis Bank, HIndalco, BOI.
Short side :     -Maruti, Dr Readdy Lab, Chola Finance, Equitus.
Short Covering  :  Adani Century Textile and BEML.
Long Unwinding   :    --
PSU BANK INDEX
Last week tremendous rally seen across the PSU banks stocks and almost gained more than 400 points from a lower level and all PSU bank participated substantially which is led by SBI.   However, Index are far behind of all time high 4335.   RSI is also showing bullish zone and trading at 68.64.  Now consider resistance at higher level 3168 to 3180, thereafter some up side towards 32285 and 3330 which is the last resistance, therafter more power ful rally can not be ruled out in near term.  At Lower level major support zone on weekly chart is 2700 and we do not think this  year it will break easily. So any dip to buy side.
Last week Trend
High
Low
Close
52W-High
52-W Low
-
3183
2788
3094
4335
2645

5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
2978
2875
2898
2880
3250
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 and any dip to good opportunity to accumujlte for long term.   Major support consider 8700 to 8750  and resistance seen on chart 9150, once crossover and sustained above up side gate open towards again 9450 + which is the last hurdle of pharma sector, thereafter no one can stop to test 10000  and above .  So any dip or consolidation to accumulate pharma stocks and available very dirt cheap price.
Last week Trend
High
Low
Close
52W-High
52-W Low

9106
8858
9039
10130
7900

5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
8997
8923
8859
8762
9065
Basket of Pharma  Stocks  :  PEL, Divis Lab, Auropharma, Cadila, Dr. Readdy, Sun Pharma, Biocon, Lupin Lab.
CNX  IT
 Strong bull grip and any dip to buy side.  Over all trend is bullish and last six  months we have seen major up move in all IT stocks.   So we may consider decent support in near term 14000  which is short of 600 points at current level, once decisively closed below with volume , likely first  reversal  and time to exit long + book profit +  play for fresh short.  On the positive side once again sustained above 14800, another round of up move on card.
Last week Trend
High
Low
Close
52W-High
52-W Low

14769
14424
14518
14771
10388

5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
14581
14596
14012
13556
12645
Basket of IT Stocks  -  TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT  Tata Elexi.
XNX METAL INDEX
Market are making a new high but this sector are under perform against the market and his new high are far behind of 1000   points.  But now at current level, right time to invest these sector of front line stocks for long term and good return.  However, last week, we have seen strong rally from lower level and almost added 240 points which is remarkable.   Over our view is positive side. We may consider support nearly 3100-3150 and major support  3000 mark, on the higher side once stay above 3300  on weekly basis likely test 300 points in near term towards 3720 which is the last hurdle of this sector, thereafter it will again test new high.  So at current level buy front like stocks and more added on declne.,
Last week Trend
High
Low
Close
52W-High
52-W Low

3310
3069
3298
4256
3047

5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
3233
3188
3423
3551
3721
Basket of Metal stocks -    Major contricutor – Tata Steel, VEDL, Hindalco, JSW Steel, Coal India, SAIL, Hind. Zinc, NMDC, JSW Steel, NMDC, NALCO.

Today Result
30th – Axis Bank, HDFC Ltd, Tech Mahindra, Godrej CP, Century Textile  Shree Cement, Indigo, IDFC Bank, IDFC, Kdea, Escorts, D Mart
31st – UPL, Tata Motor, TATA DVR, VEDL, BEL, V Guard, Castrol, Dabur, BEL Exide Raymond, MGL GSFC, Bank India, Ajanta Pharma
1st ----August – Pidlite, Excide, Apollo Tyre, TataGlobal Reliance Infra
2nd ----August – Marico, CPF, Torrent Pharma ONGC, IBUL Housing, CG Powert
3rd---- August- Titan, SAIL
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