Market Trend :
Nifty Towards 12200 +
Bank Nifty : Daily + Weekly chart Bullish – Trading Range 27600 to 29400 – break out this range will move another 1000 points in either side.
Nifty Support 11600-11621…………bullish view continue.
Market Out Look :
After made a new high 11753 some profit booking seen in market and finally closed below 11700 mark Overall trend is bullish and any decline to buy side as holding above 11600 mark. As today FO expiry and high volatile cannot be ruled out. In front line stocks some long unwinding seen .
Nifty Spot :
Trend is bullish with consider support 11666-11621-11600 range and any dip to buy side, higher level stay above 11744, up side towards 11800 and above.. Major short covering on card.
Nifty Future :
Bullish view continue with consider resistance 11750-11770, down side support 11690-11650 and any decline to intra day buy side.
Bank Nifty Future :
Market open with good note and finally on intra day it was made a high 28398 and unable to cross and sharp profit booking resulted it was closed at 28290. Over all trend is bullish with consider support nearly 28128-28050-28100 and upper side resistance 28310, crossover and stay above target 28400, thereafter real move will start.
CNX PSU BANKS :
Trend is bullish and looks SBI, PNB, Bank of Baroda, Bank of India good and sharp decline to buy side. In Technical side, once crossover 3310 and stay above over all buying likely and buy.
CNX IT :
Very bullish trend continue with consider support 15200, as long as holding above, no problem for bulls.
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.
Some profit booking seen at higher level but trend is bullish. Consider support 9976, break and trade below some short of weakness likely.
CNX Metal :
Bullish view with consider support 3600, resistance 3700-3720 watch out.
Buy Side – JSW Steel, ICICI Bank, LT on decline, SBI, RBL Bank.
Sell Side – Nestle, Britaina, Titan, Yes Bank, Reliance.
Happy trading hrs.
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