equity market up dated 6 th sep 2018

Market Trend   :  Bearish view continue  = Corrective Rally goody opportunity to Sell Side or Exit Long. Nifty – Last Support 11340 – thereafter…..Blood Bath in Street Bank Nifty – Below  27000- Non stop target 26060 Market Out Look : Market are continue in selling mode continue in three trading sessions but some support and short covering buying seen  from lower level and almost closed nearly 11500 mark.  Overall trend is very bearish and any rise to selling opportunity.  Nifty Spot  :  Nifty finally break down support level and today made a low 11394  which is nearly a strong support zone whereas a Highest put holding.  Higher level consider  resistance 11500-11525 and  trading above some more up side.  Major  resistance 11600-11620 watch out.  Down side decent support 11340-11300 thereafter vertical fall likely.   Sell on rise strategy Nifty Future  :  Sell on rise strategy continue with resistance 11570-11580  and support nearly  11480-11400 watch out.  Higher level to sell side. Bank Nifty Future  : Bank Nifty are continue in selling mode and almost tested support level 27170 and some recovery seen resulted it was closed at 27376.  Trend is very bearish with consider resistance 27500, down side support 27100-27000, thereafter vertical fall on card.  Sell on rise strategy. CNX PSU BANKS     : After break out support level and selling seen across the sector.  Over all trend is bearish with consider resistance 3200  and stay above some up side, down side support 3093 thereafter more down side. CNX IT    : Very bullish trend continue with consider support 15800  and remain above 16000  strong up move continue.  Buy Infosys around 700-710 range for target 1500.  Time period 2 years 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.     Trend is bullish but time for consolidation and lower level to buy side.  Sun Pharma, Auro Pharma, Ajanta Pharma, Cadila Pharma, Glenmark  are looks good.   CNX Metal  : Down side support broken  3600 mark so time to sell side. Happy trading hrs .