Market out look dated 3rd August

Market out look dated 3rd August  Market Trend   :  Weakness Continue  - Nifty Below 11350 – Bank Nifty 27600  Bear Favour More Down Side  - Avoid Trading in Index – Concentrate only  Stock After RBI poliy another second day market tanked more than 100 points.   Made a short term bearish pattern.  Higher High – Higher Low formation continue in market.   Over all selling seen in IT, Bank, Metal  but Parma sector outperform and looks up move continue likely in coming days. Avoid Trading in Index and concentrate stock specify in market. Nifty Spot  :  After mde a high 11229 , strong selling pressure built over all and finally it was made a low 11235 and closed near the days low which indicate short term trend bearish and likely continue in term.   Today Consider resistance 11270-11300, downside below 11235, down side target towards 11180-11170 watch out and it should not break under any circumstances.  Strong resistance 11350-11400 remain below selling opportunity 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  : Nifty Future continue   selling pressure at higher level.  Short term trend is bearish and intra day rise to sell side. Today consider resistance  11300-11320, crossover only it will show strength, down side support 11250 watch out below  more selling pressure likely. Last week Trend High Low Clos Nifty Future 11313 11009 11307 Bank Nifty  : After RBI policy heavy selling pressure seen in all Banking stocks  and finally it was break down support level  27500 too.    Short term trend is bearish.   Time being consider resistance 27600-27650 as remain below, down side target 27300-27165-27000 mark easily. Over all bearish trend and do not try to bottom fishing.  Major support 27000-27165 till hold these level  bulls are interact. 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 QUES   : Highest Put  -   11000-11200 Highest call ---   11500-11400 Pur writing -   --------------- Call Writing  -- 11500-11300 Long Side:    Sun TV,  IGL, Divis Lab, Jet Airways, Ashok Leyland, Short side :     Marico,ONGC, Arvind Mills, Maruti, Kotak Bank, Chola, PNB,LT, Can Bank Short Covering  : Ajanta Pharma, Ujjaivan, apolloTyre, Hexaware. Long Unwinding   :   KPIT, NIIT, Bank of India, M&M Finance. CNX PSU BANKS     : Over all positive bias continue, with consider support   3150-3110, resistance 3210, crossover move towards 3250 and above.  Higher level sell 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.