Market Trend :
Nifty Towards 12200 +
Bank Nifty : Daily + Weekly chart Bullish – Trading Range 27600 to 29400
Nifty Support 11600-11621…………
PSU BANK VERY HOT.
Market are continue in trading range. Last week some volatility seen and higher level unable to cross 11800 and finally it was made a low 11640 but closed nearly 11681. Rising of crude prices and depreciate of rupee above 71 range looks some more pain in rupee term . However, our market are trading in continue positive side and momentum are very strong. So any dip to buy side.
Nifty Spot :
Trend is bullish with consider support 11600-11620 and upper side resistance around 11700-11730, once stay above overall buying likely. An dip to buy side.
Nifty Future :
Bullish view continue with consider support 11680-11670, upper side resistance 11740 once stay above, over all buying towards 11780 11800 range.
Bank Nifty Future :
Last week it was try to number of attempts to cross 28400 but failed and finally it was made a low 27966 and closed above 28200 mark. Over all momentum are very strong but higher level selling pressure continue. Highest call writing seen at 28500 which is short term resistance and highest put seen at 27800 and 28000 so in this week likely these are trading range.
CNX PSU BANKS :
Trend is bullish and looks and continue trading above 200 DMA indicate bullish view and any dip to buy side. Once trade and sustained above 3325 mark up side move towards 3400 and above. SBI-Bank of Baroda, Can Bank, PNB looks good and buy side
CNX IT :
Very bullish trend continue with consider support 115500-15600 range and upper side stay above 15850, upper side target 16000 and above.
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.
Above 10000 we are very bullish and our target 11000 and above in coming days. Buy side front line stocks.
CNX Metal :
Bullish view with consider support 3600-3500 range and upper side stay above 3700, upper side open towards 3800 and above.
Happy trading hrs.
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