Break out Target 11200-10000 = 1200 Target 11200 + 1200 =Projected Target 12400 +
Trading Range 11300 to 11500 - Closed above 11500 – ready for fresh move.
Trend is Up – Daily – Weekly – Monthly Chart – of NIFTY + Bank Nift.
Do not try to Short Sell
Market Out Look :
After some pause of first two days, market strong come back and finally closed with a all time high, however just 9 points behind at 11495 which was last week high. Overall trend is strong bullish and Nifty and Bank Nifty showing a big move in coming days. Daily + Weekly + Monthly Chart are indicate strong bullish in all front line Index and any dip to buying opportunity. As earlier it was also mentioned that Pharma Sector good and from a low of 9000 made a high 9700 + and broad based buying seen. So now ready for another major upside and remain invested.
Nifty Spot :
Strong bullish view with consider support 11400-11410, up side crossover 11500 and stay above, up side open towards 11580-11600-11640. On weekly closing above 11500, ready for big move. So remain buy side.
Nifty Future :
Consider support 11470-11450 whereas to buying opportunity on intraday decline, upper side crossover 11507 and stay above, another 100 points rally likely in screen. Strength above 11507, thereafter big move.
Bank Nifty :
Bank Nifty once again strong come back from a lower level and managed to closed above 28000 mark.. Over strong bullish trend and we may consider support 27800-28000 range and stay above up side open towards 28500 and above in short term.
CNX PSU BANKS :
On Friday decent buying was seen in across PSU banking stocks which is lead by SBI and almost added 10 points. On the other hand PSU Bank Index some recover seen at lower level and finally managed to closed near to weekly high. So trend have been change and once stay above 3230 buying again in market, lower level support nearly 3100 mark.
CNX IT :
Very bullish trend and fresh break out continue, above 15000 entered in unchartered region and up side open towards 15500-16000 mark in coming days.
CNX Pharma :
Strong bull seen in last few weeks and after made a low 8724 it was made a high 9558 and finally it has also break out trding range which was 9470 to 8724 = 724 points on chart. So projected target in near term 9470 + 724 = 10194 likely . On the other hand trading above on weekly chart i.e. 10000 and on sustainable basis, big towards 12000 and above. So any dip to buy side and after a long term consolidation of 3 years looks over and ready to big big move in pharma sector.
We are are continue bullish and hope that a lot of money make in Pharma segment. Over all trend is bullish and shortly it will test 10000 mark which is last hurdle , thereafter be prepare for power full rally. As last week already gained more than 600 points so short term time for consolidation and pause whereas a good buying opportunity.
CNX Metal :
Over all trend is side between 3300 to 3500 weakness to buy side. Concentrate only front line stocks. Any dip to buy side.
3M Team Research
325 Millindia Manner, RNT Marg,
INDORE MP 452 006
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