Monday, October 8, 2018

Daily Morning News Letter – 8th OCT 2018 EQUITY – FO –CASH-OPTION MARKET


Market Trend   :
 Big Sell off by FIIS   --  Net Sellers
  Nifty Crash 1496 points (from 11760 to 10294 – Earlier down 1220) points
 Maximum correction likely 15% from High 11760 which is 9996  (50 points in either side )
Major Support -  Nifty  9900-9952   -  Bank Nifty   23605-23800
Last bull market support of Nifty 9800  - thereafter towards 8000   +
At these level market will go extreme over sold and RSI below  20 
Strong Pull Back and V Shap Rally cannot be ruled out.
 IT STOCKS – Ready to fall  - Play short side +
Market Out Look :
On Friday after RBI policy market finally crashed and almost 700 points down of Nifty in last three trading sessions whereas Bank Nifty down more than 3500 points from a high.  Strong bearish zone but some more down side and likely test 10000 mark whereas a extremely oversold market and strong bull back also possible.  On Over all rising of crude prices and depreciate of rupee also a big problem of Indian economy.  On the Sect oral Indices, major sell off seen like Nifty Auto and trading b below 52 weeks low, Nifty PSU Bank almost near to 52 week low, FMCG heavy selling seen, Media, Rality  also trading below 52 week low. Only IT are outperformer in market and trading near to all time higher but it  will not sustainable and any time selling imminent.   
On Monday if market open with down side gap, do not play short sell and wait for opportunity to rise then play short sell, best way to avoid trading in Index and stock specify is a best and safe strategy. 
 Remember we are bearish below 11171 and advised to exit long  all positions,  sell  all delivery and sell all mutual fund investment and all money convert into Liquid assets and wait decline in market and around 10000  + any where start investing.  



Nifty Spot  :  10316
Last 3 trading sessions major sell off seen and almost 700 points wipe out. However, trend is bearish. Consider resistance nearly  10500 and remain below down side open towards 10200-10000-9950 likely. TREND REVERSAL LEVEL 10538 .
Trend is Down – Loss 5.6% last week – Major support of bull market 9800 + (thereafter start bear market)
Major support on monthly chart at 10000 +   

Last week
High
Low
Close
52 High
52-Low
Trend
11036
10262
10316
11760
9906


5 DMA
10 DMA
50 DMA
100 DMA
200 DMA
10742
10892
11321
11040
10780
On Weekly Chart
9962
9081




Nifty Future  :  10347
 NIFTY 50  FUTURE – As the graph of nifty future shows that the next major support level for nifty would be 9950 – 10000 and most probably it could either bounce back or break out after consolidation at this levels. BE CAUTIOUS decisive close below the level of 9950 next target could be 8000 towards the lower side which is not looking possible unless and until some extreme negative news in the market
Last week Trend
High
Low
Clos
Nifty Future
11090
10292
10347



Bank Nifty Spot  :  24443
After RBI policy maket finally break down and heavy selling seen across the sector and Bank Nifty Future finally made a low 24272.   Bearish trend continue with consider resistance 24500-24600 remain below down side open towards 24000-23600 easily. Weekly and monthly support 23600 and likely test in coming days.   
Bank Nifty on Weekly Chart  -   Trend is down – Support 23600 +
Last week
High
Low
Close
52-W High
52-W LOW
Trend
25470
24251
24443
28388
23604
5 DMA

10 DMA
50  DMA
100 DMA
200 DMA

24702
24747
26445
26792
26105

On weekly chart
23946
20873




FO QUES   :


NIFTY
           BANK NIFTY
Highest Put
10500-10700
24000
Highest Calls
11000-11200
25000
Put Writing
--

Call Writing
11000-10600-10700

Long Side
TCS, TITAN

Short Side
HPCL  BPCL  ONGC
Short Covering

Long Exit


FIIS STATISTIC

FIIS


DIIS


STOCK Future




CNX PSU BANKS     : 2656
Last week it was made a bottom 2634 and finally break down support level.  Now in this week major resistance 2750-2760 watch out.  Over all selling pressure continue.
Last week
High
Low
Close
52W-High
52-W Low
- Trend
2862
2634
2656
4335
2634
5 DMA
10 DMA
50 DMA
100 DM
200 DMA

2743
2758
3081
2977
3107

On Weekly Chart
3275
3190

Basket of PSU Banks :   SBI –BOB-Can Bank- Indian Bank_ Syndicate Bank, Union Bank, Andhra Bank, IDBI, All Bank, Bank of India.



CNX IT    :     15592
After made a all time high some selling pressure seen but still holding positive bias.  As the market conditions, advised to book profit long side and any time big sell off likely.   
Trend is down – CNX IT was the best performing of 2018 – closed below support level-
Last week
High
Low
Close
52W-High
52-W Low
Trend
16282
15266
15592
16361
10527
5 DMA
10 DMA
50 DMA
100 DMA
200 DMA

15798
15918
15385
14644
13636

On weekly Chart
11842
11547

Basket of IT Stocks  -  TCS-Infosys,Wipro, HCL Tech, Tech Mahindra, Infebeam, OFSS, KPIT  Tata Elexi.




CNX Pharma  : 9547
After made a high heavy profit booking seen and finally break down 10000 mark and over all selling seen.  However, it has still holding 200 DMA which is a positive sign and any sharp dip to buy side of front line stocks.
Last week Trend
High
Low
Close
52W-High
52-W Low
Trend
10143
9496
9547
10786
7900
5 DMA
10 DMA
50 DMA
100 DMA
200 DMA

9827
100006
9316
9315
9188

On weekly Chart
11842
11547

Basket of IT Stocks  -  


www.3mteam.in 

2 comments:

  1. Great knowledge about investment by experts, Keep it Up nice work.
    Trade India Research

    ReplyDelete
  2. Tata Elxsi has reported a drop of 20 percent quarter on quarter in its net profit at Rs 66 crore against Rs 82.2 crore last quarter.
    Capitalstars

    ReplyDelete