Daily Morning News Letter – 17th September – 2018
EQUITY – FO –CASH-OPTION MARKET
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Golden Rules for Traders :
1. Never added to a losing trade.
2. Never lose more than 1 % to 2% of your trading capital on any one trade.
3. Never trade anything you do not understand 100%.
4. Trade in the direction of the trend in your trading time frame.
5. Only look for low risk/high reward trades or high probability set up . When you do not have any signals, do not trade.
6. Trade your plan, your system, your signals, the chart and price, action and not your opinions, bias or predictions.
7. Find a trading methodology that fits your personality.
8. Do not trade before you have a complete trading plan, including rules on entries, exits and risk management.
9. The size of your wins and losses determines your trading success.
10. Your risk management rules will determine the success of your technical trading system.
Market Trend :
Rally continue- Last Hurdle Nifty 11600 – thereafter new high
Bank Nifty - Resistance 27500 - Buy side.
Market Out Look :
After sharp hammering in market, last two trading sessions strong bounce back seen due to positive announcement likely by Govt of India as well as control of rupee, resulted rupee slipped 1.50 from a high and over all buying seen across the sector in last two trading sessions and looks more up side in short term. So at current level any short should be avoid and buy on decline strategy.
Nifty Spot :
Last week after made a low 1150 almost gained more than 300 points and able to closed at 11515 which strong sign to reversal from lower level and up ward journey going to start and likely cross new high. Overall trend is bullish and intra day dip to buy side with consider support 1350-11360, upper side stay above 11525 gate open towards 11600 + which is last hurdle thereafter power full rally on card.
Last week
|
High
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Low
|
Close
|
52 High
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52-Low
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Trend
|
11573
|
11250
|
11515
|
11760
|
9685
|
5 DMA
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10 DMA
|
50 DMA
|
100 DMA
|
200 DMA
|
11440
|
11500
|
13005
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11000
|
10730
|
Nifty Future :
Now consider support 11500=11510 and hold above up side target 11600-11650 in near term. Consider 11510 will be trend decider.
Last week Trend
|
High
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Low
|
Clos
|
Nifty Future
|
1559
|
11466
|
11547
|
Bank Nifty Spot :
After sharp fall from a high 27405 massive fall seen and almost 1000 points wipe from a higher level but last two trading sessions strong bounce back and resulted it was closed above 27100 mark. All banking stocks strong recovery seen and looks more up side. So any dip to buy side. We may consider support 27000, upper side stay above 27200, up side open towards 27450-27500 and above.
Last week
|
High
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Low
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Close
|
52-W High
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52-W LOW
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Trend
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27405
|
26555
|
27164
|
28388
|
23604
|
5 DMA
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10 DMA
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50 DMA
|
100 DMA
|
200 DMA
| |
27095
|
27363
|
27466
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26818
|
26096
|
FO QUES :
NIFTY
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BANK NIFTY
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Highest Put
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11400—11500
|
26900
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Highest Calls
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11800-11600
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27500
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Put Writing
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Call Writing
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Long Side
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Wockhard Pharma, BHEL, TCS, Auropharma, BHEL, Ashok Leyland
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Short Side
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Bata India, JustDial, HCL Tech
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Short Covering
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BPCL SRF
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Long Exit
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CNX PSU BANKS :
After sharp fall some recovery seen and it was made a 2991 and finally closed at 3100 level. Last and final resistance level 3170-3200 once stay above looks very sharp move.
Last week
|
High
|
Low
|
Close
|
52W-Hig
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52-W Low
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- Trend
|
3148
|
2991
|
3086
|
4335
|
2645
|
5 DMA
|
10 DMA
|
50 DMA
|
100 DMA
|
200 DMA
|
3075
|
3147
|
3076
|
2979
|
3175
|
Basket of PSU Banks : SBI –BOB-Can Bank- Indian Bank_ Syndicate Bank, Union Bank, Andhra Bank, IDBI, All Bank, Bank of India.
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CNX IT :
Trading above continue bullish view 16000. However, at current level some profit booking is a best way. However, HCL Tech looks good and big break out seen after 6 years.
Last week
|
High
|
Low
|
Close
|
52W-High
|
52-W Low
|
Trend
|
16230
|
15844
|
16073
|
16230
|
10454
|
5 DMA
|
10 DMA
|
50 DMA
|
100 DMA
|
200 DMA
|
16065
|
16003
|
14980
|
14343
|
13325
|
Basket of IT Stocks - TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT Tata Elexi.
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CNX Pharma :
Last week some pause and profit booking seen and it was made a low 10152 but decent short covering and fresh buying resulted it was made a new high and closed nearly. Strong bullish view and heading towards 11000. Sun Pharma, AuroPharma, Cadila, Lupin are looking Hot.
Last week Trend
|
High
|
Low
|
Close
|
52W-High
|
52-W Low
|
Trend
|
10786
|
10152
|
10653
|
10786
|
7900
|
5 DMA
|
10 DMA
|
50 DMA
|
100 DMA
|
200 DMA
|
10485
|
10427
|
9575
|
9150
|
9125
|
Basket of IT Stocks - TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT Tata Elexi.
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CNX Metal :
Strong recovery on Friday and finally it was given a decent break out above 200 DMA and continue sustainable basis so more up side in coming days.
Last week
|
High
|
Low
|
Close
|
52W-High
|
52-W Low
|
Trend
|
3727
|
3543
|
3714
|
4256
|
3062
|
5 DMA
|
10 DMA
|
50 DMA
|
100 DMA
|
200 DMA
|
3652
|
3640
|
3415
|
3500
|
3668
|
Basket of Metal stocks - Major contricutor – Tata Steel, VEDL, Hindalco, JSW Steel, Coal India, SAIL, Hind. Zinc, NMDC, JSW Steel, NMDC, NALCO.
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NIFTY SECTOR INDEX :
Index
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52 week range
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Last Week Range
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High
|
Low
|
High
|
Low
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Close
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50
|
100
|
200
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CNX Midcap 100
|
21840
|
17000
|
18970
|
18972
|
19512
| |||
Nifty Reality
|
375
|
251
|
269
|
282
|
303
| |||
Nifty. Pvt. Bank
|
16152
|
13298
| ||||||
Nifty FMCG
|
33168
|
24427
|
30916
|
29758
|
28230
| |||
Nifty Auto
|
12108
|
10530
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