Nifty Above 10200 target 10500 10700
Bank Nifty – Above 25200 target 26500 +
Due to long weakend –
Time for consolidation
Trade Low volume
Diwali Gift Call Closed
Bharti Tele 400 to 470
DHFL – 530 to 600
Market out Look : Market are continue to making new high and over all trend is bullish but time to pause and consolidation time as long weekend due to Diwali Festival. Best way to no fresh trade on today trading and profit booking is a best strategy and money at home and enjoy. Wish you happy and prosperous Diwali.
Technical Out Look
Nifty : Consider support 10200-10180, resistance 10250 10280 10300
Nifty future : Buy on decline around 10200-10205 with stop loss 10150 target 10250-10280
Bank Nifty Future : Bank nifty continue in bullish trend , however almost 900 points rally seen in last few trading sessions. We may consider support 2480-24500 range and resistance 24850 24900. Time to book profit and left for trading for Monday with a new zeal,
Metal Index : Up move continue with consider support 3800 and resistance 3875-3900 range. Buy on decline strategy of front line metal stocks like, Tata Steel, Hindialco, VEDL, Hindustan Zinc.
Pharam Index : Consider support 9300-9350 range and up side open towards 9800-10000 mark. Dr Readdy Lab Sun Pharma, Aurbindo Pharma, Cipla, and Divis Lab very hot and any dip to go long side. Very Hot.
PSU Bank Index : Trend is down but now over sold and some recovery in front line PSU bank likely. Consider support 3000-2950 and resistance 3080-3100 in near term. Some short covering likely.
Long Side : ACC, Bajaj Auto, DLF and Hindustan Zinc.
Short Side : Zee, Star, Axis Bank and Mothersonsumi.
More details call
3M Team Research