Equity Market up dated 24th August 2018

Market Trend   : Break out Target 11200-10000 = 1200 Target 11200 + 1200 =Projected Target 12400 +  Trend is Up – Daily – Weekly – Monthly Chart –  of NIFTY + Bank Nifty + Nifty Above 11500  - Bullish view CNX PHARMA – Continue above 10000, big break out towards 12000 +  Market Out Look :  Market are continue in trading range , however, major sell off  seen in all Banking stocks and closed with a negative bias.   Overall trend is bullish with consider Nifty support 11500 and resistance 11650.   Overall trend is bullish but higher level be cautious and being  a weekend some profit taking can not be ruled out.  On Thursday rally  mainly driven by large cap, Such as LT, Reliance, Maruti, whereas HDFC Bank and HDFC are laggards. Nifty Spot  :  Trend is bullish with consider support 11550-11510-11500, resistance at higher level 11630-11650.  As highest put holding 11600  which is a resistance in near term.  Bank Nifty  :  Over all heavy selling seen in since morning and finally closed with a red note with a loss of more than 250 points.   Over all some bearish view with consider resistance 28150-28200, remain below down side target 28000-27900-27750.  Trend will change above 28400 above.