Equity Market up dated 31th August 2018

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…………Hold no problem Today expiry so low volume advised.  After made a new high some profit booking seen o intra day but over all closed with minor losses.  Over all Bank, finance, Auto and FMCG stocks was good and soe selling pressure seen in IT , Metal and OMC counter.   A sharp fall of upee and surge in global crude prices also a remained the problem in market and likely it will cap in coming days.  Over all ITC save the market and likely it will out perform in the month of Sept 2018.  As today  new series will be start so time to wait and watch first 30 minutes. Nifty Spot  :  Trend is bullish with consider support  11666-11621-11600 range and any dip to buy side, higher level resistance 11700  crossover move towards 11750—11770.    Nifty Future  :  Bullish view continue with consider support 11700, upper side crossover 11760  non stop target 11800 and above. Bank Nifty Future  :  Trend is bullish and managed to hold 28100 mark on intra day and finally it was closed at 28225.    Consider major support 28000, upper side resistance 28350-28400, sharp move towards 28500 and above.   ICICI Bank, Axis Bank looks good and time to watch. 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.     As we are continue mentioned to buy side in front line and finally it was made a high 10148 and closed above which indicate positive side. Now time to buy Sun Pharma, Auro Pharma  Lupin Ltd.      CNX Metal  : Bullish view with consider support 3600, resistance 3700-3720 watch out. Buy Side   -  ICICI Bank, SBI,  Tata Steel, Tata Motor, LT, M&M, ITC. Short Side -   Equitus,  IOC, ICICI Pru. Happy Trading Day.