Thursday, August 9, 2018

market trend


Market Trend   :
  Nifty Hold Support 11200 up side open towards 11500 
Break out Target 11200-10000 = 1200 Target 11200 + 1200 =Projected Target 12400 +
Bank Nifty  : Trading Range 27164 to 26060  (Break out Area) 27164- - 26060 = 1104 Upside projected 27164 + 1104 = 28268  (Upside projected Target)
BUY ANY DIP  -  ONLY BUY SIDE

 Once again new life time high and up trend  continue.  Pvt. Banks looks good and more up side in coming days. Strong momentum in market.  Remain invested.  As Nifty move non stop 500 points from the break out level so some profit booking also possible at the resistance level.   Any long should keep a strict stop loss. 
Nifty Spot  : 
Trend is very bullish and any dip to buy side.  Consider support 11340-11350 whereas a good support are intra day, higher level once crossover 11450, up side target 11500 1540 1550 likely in short term. 

Last week Trend
High
Low
Close
52W-High
52-Low
Nifty Spot
11368
11295
11361
11368
9685



5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
11325
11242
10880
10677
10567
Nifty Future  :
Nifty Future bull move continue and likely more up side in coming days.  Today support 11380-11400  whereas to buying opportunity, higher level resistance 11500, thereafter sharp movement on card.
Last week Trend
High
Low
Clos
Nifty Future
11407
11274
11396
Bank Nifty  :
Trend is bullish and now looks that after some laggerds of HDFC Bank and Kotak bank will move in coming days which is a highest weight age in Index so any dip to buy side.  Consider intra day support 27880-27810, upper side above 28000 and sustained above target 28200-28300.  SBI will declare result on Friday , good result may more up side.  Remain buy side.
Major support 27000-27165 till hold these level up side target 28250-28500 in near term.  On Weekly Chart - major support 25000-25500 and up side open towards 31000-31500 on weekly chart.

Last week Trend
High
Low
Close
52-W High
52-W LOW
Bank Nifty Future
27872
27415
27777
27872
---
5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
27650
27430
26740
25976
25746

FO QUES   :

Highest Put
11000   - 11200
Highest Calls
11500—11400
Put Writing
11300---11400
Call Writing
11700-   11600
Long Side
STAR, Voltas, KTK Bank, Ajanta Pharma, Tata Motor, SBI
Short Side
Lupin, divis Lab, BPCL, Arvind BEML, IGL
Short Covering
SRF, Adani Ports
Long Exit
Jet Airways, Balrampur Chini.


CNX PSU BANKS     :
Over all positive bias and strong bullish note with consider support   3250, upper resistance 3360-3400 watch out. Over all trading above 200 DMA indicate up side continue and more up move in coming days.   SBI resulted will come on Friday and will be a trend decider of PSU Bank Index.

Last week Trend
High
Low
Close
52W-High
52-W Low
-
3270
3135
3239
4335
2645


5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
3206
3092
2931
2895
3254
Basket of PSU Banks :   SBI –BOB-Can Bank- Indian Bank_ Syndicate Bank, Union Bank, Andhra Bank, IDBI, All Bank, Bank of India.




CNX IT    :
Strong bull as remain above 14000, upper side crossover 15000, another round of buying in IT stocks. Trend is bullish  and buy side. No view change.
Last week Trend
High
Low
Close
52W-High
52-W Low
14740
14387
14649
14771
10388

5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
14577
14570
14100
13647
12736
Basket of IT Stocks  -  TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT  Tata Elexi.

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.    Lower level to buy side.
Today Lupin disappoint, however, CIPLA delivered good number.  Today Auro Pharma will give number and next week more front line company will give result.  So few trading sessions very volatile but good opportunity to long side.


Last week Trend
High
Low
Close
52W-High
52-W Low
9559
8978
9501
14771
10388

5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
9304
9151
8976
8797
9058
Basket of IT Stocks  -  TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT  Tata Elexi.

CNX Metal  :
As we have mentioned that this sector is heavy over sold and at the current level all front like  stocks looks good and any dip to long side.   China fevour of metal over and ready to roar.  On the positive side, after made a low of 3062 it was finally made a high 3387 which was gained from the low almost 400 points.  However, still not break out in trading range which is  3430 to 3062 range = i.e. 368 points. Once it will cross and sustained above 3420 up side open towards 3700-3798  whereas 200 DMA also established.   Any dip to buy side.    VEDL-HINDALCO-TATA STEEL-JSW STEEL  very hot and buy.

Last week Trend
High
Low
Close
52W-High
52-W Low
3387
3266
3381
4256
3047
5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
3336
3285
3405
3530
3710
Basket of Metal stocks -    Major contricutor – Tata Steel, VEDL, Hindalco, JSW Steel, Coal India, SAIL, Hind. Zinc, NMDC, JSW Steel, NMDC, NALCO.









Forthcoming Results :
9th August – Auropharma, Tata Com, Page Ind, Mannapuram Finance, MNRF, Jindal Steel, Eicher Motor, Engineers India , Cummins and Bharat Forge.
10th August -   Andhra Bank – Union Bank, Sun TV, SBIN, NHPA,  NCC,  PC Jewelles, Hindalco, GAIL, Glenmark, Apollo Hospital, Ltd.


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