Market outlook for 23RD JUNE 2017

As we have written in this column  Nifty will face resistance 9709 successfully hold it will move further and major break through, but unable to cross and started down ward journey and intra day almost loss more than 100 points in future and closed with negative bias.   On Thursday trade, over all profit booking, long unwinding and some counter fresh short saw.   Overall trend is bullish  but any fresh and confirm up trend only above 9710 on closing basis till then do not try to big exposure in market.

Nifty  :   Now we may consider decent support  9580-9550  once break these level, over all selling can not be ruled out, higher level resistance continue around 9700 9710 range.

Bank Nifty  :    Holding above 23500 strong bull favour and almost made a high 23890 .   Trend is strong bullish and intra day decline to long side with tight stop loss. 

PSU Bank INDEX  :   Consider support 3450-3500 and continue holding, but at current level fresh selling is not visible  and likely SBI will lead the rally in coming days in PSU Banks.

PHARMA INDEX   :          Over all mixed trend continue with consider support range 9300 to 9350 range, stock specify movement continue likely short covering in Sun Pharma and fresh buying in AurPharma and fresh short in Dr. Readdy Lab. 

 SOME IMPORTANT POINTS TO BE WATCH OUT 

Advise to traders, be careful any long and side and over all data found that these are making in short time period say 1 or 2 days  so any trade  should be cautious in either side with strict stop loss.

Long side  :     

SBI , Balkrishna Ind and Tata Power –

Long exit :

ARVIND MILLS, CENTURY TEXTILE, HDIL, SOUGHT BANK BANK OF INDIA DCB INFOSYS DHFL. Heavy long unwinding seen in number of stocks.

Short covering :

RELIANCE INFRA, SAIL YES BANK M&M, SBI AND SUNPHARMA

Short build up :

PETRONET, DLF, HINDALCO, LUPIN, TATA MOTOR AND MANY MORE

 Our Recommendation   :

Short call in  Lupin, Hindalco, Tata Steel, VEDL and Century Textile.

 OPEN INTEREST SPURT  : NO. OF CONTRACTCS

SBI                                                          1319

YES BANK                                            3514

M&M                                                    673

SUN PHARMA                                   3864

DLF                                                         1535

LUPINLAB                                            2562

ONGC                                                   1045

LT                                                            1177

BPCL                                                      912

 OPTION ANALYSIS :

 Highest call hold 9700 followed by 9800

Highest Put hold   9500 and 9600

 F&O BAN

 ALL BANK, BANK OF INDIA, BEML, DLF, HDIL,  IBREAL, IFCI, INFIBEAM JP ASSOCIATE, KSCL, ORIENT BANK RCOM AND WOCKPHARMA

 FIIS ACTIVITY ON 22nd  JUNE 2017

Derivative Segment

Index Future                  +98.65

Index Options                 + 593.66

Stock Futures                – 100.76

Stock Options                + 45.06

Net FO Positions            +626.61

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Market outlook for 22nd JUNE 2017

On Wednesday market closed with some negative bias and some profit booking due to global ques , however it was managed to closed above 9600 mark.  

Nifty  :   Now we may consider decent support  9600-to  9580   till hold these levels  bounce back can not be ruled out and below be prepare for correction in the market.

Bank Nifty  :    Holding above 23500 strong bull favour with consider resistance 23750  crossover it will show more power towards 24000, down side strong support 23350, below it will test 23000 mark.

PSU Bank INDEX  :   Consider support 3450-3500 and continue holding, but due loan waiver  scheme by govt, over all selling pressure seen in PSU bank .

PHARMA INDEX   :          Looks that  recovery likely over and ready  for another correction in this sector.  Lupin likely a bid down side in coming days, once it was broken.    

SOME IMPORTANT POINTS TO BE WATCH OUT 

Long side  :     

PC JEWELLERS, LT MARUTI HUL CAN BANK

Long exit :

SUN TV BAJAJ AUTO NALCO

Short covering :

IDBI, OLBC, AND BANK OF INDIA

Short build up :

FED BANK, OIL, EICHER MOTOR, BPCL LUPIN IBUL HOUSING AND MANY MORE.

 OPEN INTEREST SPURT  : NO. OF CONTRACTS

 LT                                                            1871

CAN BANK                                          491

FED BANK                                            1130

EICHER MOTOR                                                1000

LUPIN                                                   2520

BPCL                                                      1110

TCS                                                         2112

YES BANK                                            2186

AXIS BANK                                          1305

 OPTION ANALYSIS :

 Highest call hold 9700 followed by 9800

Highest Put hold   9500 and 9600

 F&O BAN

 ALL BANK, BANK OF INDIA, BEML, DLF, HDIL,  IBREAL, IFCI, INFIBEAM JP ASSOCIATE, KSCL, ORIENT BANK RCOM AND WOCKPHARMA

 FIIS ACTIVITY ON 21ST JUNE 2017

 Derivative Segment

Index Future                  – 90.73

Index Options                 + 145

Stock Futures                –  1099

Stock Options                –  44

Net FO Positions            – 89.50

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On Tuesday market trend in small trading range and unable to cross previous resistance level  and higher level some profit booking seen  some counters and almost closed near to 9650.   Over all trend is bullish and after sharp rise on yesterday time for consolidation and waiting for further break out and once it will be happen it will added another 100 to 150 points in short term.

Nifty  :   Now we may consider decent support  9600-9620 holding these level again higher side.   Resistance around 9700-9710 once successful taken out strong buying force emerged in the market and major short covering cannot be ruled out.

Bank Nifty  :    Holding above 23500 strong bull favour and once crossover 23750 with volume and added open interest it will move towards 24000 and above.

PSU Bank INDEX  :   Consider support 3450-3500 and continue holding, but due loan waiver  scheme by govt, over all selling pressure seen in PSU bank in front line stocks like  PNB, BANK OF CARODA, BANK OF INDIA AND CAN BANK.  However, SBI showing some strength.

PHARMA INDEX   :        Some profit booking seen in pharma stocks and consider support nearly 9350. However, some short added in some counter like Lupin and Sun Pharma.

SOME IMPORTANT POINTS TO BE WATCH OUT 

Long side  :     

HEXAWARE, UJJAVAIN APOLLO TYRES, EQUITUS AND NBCC

Long exit :

SOUTH BANK AND BERGER PAINTS

Short covering :

BEML, DISH TV, HINDUSTAN ZINC.

Short build up :

EICHER MOTOR, BPCL, MARUTI, LUPIN, BANK OF BARODA, PNB, SUNPHARMA, IDBI, GAIL

 OPEN INTEREST SPURT  : NO. OF CONTRACTS

BANK NIFTY                                                       16636

BPCL                                                                      1006

MARUTI – SHORT SIDE                                  1334

LUPIN  – SHORT SIDE                                       1477

BANK OF BARODA – SHORT SIDE              926

PNB       – SHORT SIDE                                     1358

SUN PHARMA – SHORT SIDE                      1700

DLF – COVERING                                              – 984

HDFC                                                                     772

RBI  – LONG SIDE                                               202

RELIANCE                                                            674

YES BANK – SHORT COVERING                  – 167

OPTION ANALYSIS :

Highest call hold 9700 followed by 9800

Highest Put hold   9500 and 9600

F&O BAN

ALL BANK, BANK OF INDIA, BEML, DLF, HDIL, IBREAL, IFCI

INFIBEAM JP ASSOCAITES KSCL, ORIENTAL BANK, RCOM WOCKPHARMA

NEW IN BANK : IFCI

FIIS ACTIVITY ON 20TH JUNE 2017

Derivative Segment

Index Future                  + 321

Index Options                 +345

Stock Futures                – 481

Stock Options                – 22

Net FO Positions            + 164

 RAKESH SETHI

 

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Market are finally break down upper level  and closed with decent gained near to  9657.  Bank Nifty also performed exceedingly well and closed above 23700 and Pvt Sector banks looks good.  Major short covering seen in metal stocks whereas again fresh short seen in pharma segment.   Over all trend is bullish.

Nifty  :   Now we may consider decent support  9600-9580 range and resistance at 9700   crossover it will show more power towards 9750

Bank Nifty  :   Closed above 23500 decent break out seen in Bank Nifty  and almost closed near to day’s  high and likely test new high 24000   mark.

PSU Bank INDEX  :   Consider support 3450-3500 range but still under performing , however some short covering seen in PSU bank like SBI ANDBOI.

PHARMA INDEX   :        Some profit booking seen in pharma stocks and consider support nearly 9350.

SOME IMPORTANT POINTS TO BE WATCH OUT 

Long side  :     

IBREAL,  MOTHERSON SUMI,   M&M FINANCE

Long exit :

VOLTAS AND BIOCON

Short covering :

VEDL, ADANI ENT. BANK OF INDIA, TISCO, SAIL AND LT

Short build up :

HDIL, INDIAN BANK, WOCKHARD, EICHER MOTORS ESCORTS AND YES BANK.

 OPEN INTEREST SPURT  : NO. OF CONTRACTS

IBREAL                 2256

MOTHER SUMI     249

VEDL                    – 558

ADANI ENTT.        725

LT                         – 339

HDIL                     1642

WOCKHARD                   2439

YES BANK            2746

RELIANCE            – 1507

SUN PHARMA       1065

TCS                      -1804

DLF                      – 626

AXIS BANK           -541

UJJAVIN               -310

SBI                       -969

 F&O BAN

 AL BANK, BANK OF INDIA, BEML, DLF, HDIL, IBREAL, INFIBEAM, JP ASSOCIATES, KSCL, ORIENTAL BANK, RCOM AND WOCKPHARMA.

 OUT OF BANK :  UJJAVAIN

NEW IN BANK : HDIL, IBREAL AND WOCKPARMA.

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Market outlook for 16th JUNE 2017

Market are continue in profit booking before the fed rate meeting and closed below 9600 which indicate short term profit booking in the market.  However,  we can not see major down side  and likely reversal from the level of 9500.

Nifty  :   Now we may consider decent support 9560  below towards 9520 9500, resistance around 9600=9620.

Bank Nifty  :   Finally break down support level and trading below 23500,   now consider support 23300 and 23251.

PSU Bank INDEX  :   Consider support 3450-3500 range and still holding.  Closed below 3400   panic situation can not be  ruled out.

PHARMA INDEX   :     As we are continue written in this column do not short sell and above 9300 strong bull hand and almost added 400 points.      Remain long side, do not think any short side.

SOME IMPORTANT POINTS TO BE WATCH OUT 

Long side  :     

DLF   JETAIRWAYS

Long exit :

KOTAK BANK, HDFC, TITAN AND BANK OF INDIA

Short covering :

INDIGO   HDIL, UJJAIVAN AND INDIAN BANK

Short build up :

BIOCON   EQUITIUS APOLLO HOSPITAL, PNB, GAIL, ALL BANK

 RBL BANK AND MANY MORE.

 OPEN INTEREST SPURT  : NO. OF CONTRACTS

DLF                             1791

AUR PHARMA 2981

RBL BANK                   1280

PNB                             1166

DHFL                           914

YES     BANK               1495

LUPIN                          – 362

ICICI  BANK                1124

HDFC                          – 422

HPCL                           – 993

BPCL                           – 782

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Market outlook for 9TH June 2017

Market are continue in up ward bias but higher level some profit booking saw in the market.  However some sector like, IT, Housing Finance and PSU banks in bearish zone whereas  our HOT sector Pharma smart pull back due to short covering and looks fresh short may be avoided.

Nifty  :   Now we may consider decent support 9600 and major support range 9500-9530 resistance at higher level 9700-9710 must be watch out.

Bank Nifty  :   Trend is bullish with consider support 23300-23350,   and holding above 23500 strong movement continue likely.

PSU Bank INDEX  :   Consider support 3450-3500 range and looks some short covering in coming days in all PSU banks.

PHARMA INDEX   :     As we are continue written in this column do not short sell and above 9300 strong recovery and almost it was made a high  9551.  So short term our view is positive and good trading opportunity.  

SOME IMPORTANT POINTS TO BE WATCH OUT 

Long side  :     

Tisco, HDFC 

Long exit :

IOC

Short covering :

Lupin and Sun Pharma

Short build up :

Petroent LNG, OBC, Reliance Capital and GAIL

 OPEN INTEREST SPURT  : NO. OF CONTRACTS

TCS                              4100

AXIS                             – 239

SUN PHARMA                 – 5236

BOB                              400

BIOCON                         -561

GAIL                             723

YES                              847

HDIL                             500

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Market outlook for 8TH June

Market  are  continue in positive bias and after RBI policy more buying seen in Banking Index and stocks resulted closed with a positive side.  On the other side, brokerage stock also excellent performance and fresh short selling seen in IT stocks and some short covering in Pharma segment.  Over all trend is bullish and any decline to buy side.

Nifty  :   Now we may consider decent support 9600 and major support range 9500-9530 range till hold there is no problem for bulls and first target towards  9750 thereafter 9850-9860 in coming days.

Bank Nifty  :   Trend is bullish with consider support 22950   23000 range as long , now finally closed with a decent volume and added substantial open interest above 23500, now heading towards 24000 mark in coming days.

PSU Bank INDEX  :   Consider support 3450-3500 range and looks some short covering in coming days in all PSU banks.

PHARMA INDEX   :   As we continue written in this column that at the current level do not think short sell and any dip to buying opportunity.   Time being consider support 9150  9100  and closed above 9300  looks good and major up side.   We are expected heavy short covering in Pharma stocks (like IT) in coming days specially we focus – SunPharma, Aurbindo pharma, Lupin and Dr Readd lab.

SOME IMPORTANT POINTS TO BE WATCH OUT 

Long side  :     

Can fin home –Indian BankCadila Health CareOBCHCC  and many more

Long exit :

KSCL,

DLF

Short covering :

IBREAL, Reliance Capital, RBL Bank.Reliance.

Short build up :

Yes Bank, BPCL, TECH Mahindra, TCS  and many more

OPEN INTEREST SPURT  : NO. OF CONTRACTS

VEDL                            – 266

AUR PHARMA                – 349

SUN PHARMA                 -1599

RELIANCE IND               – 491

TELCO                          -1837

TCS                              4108

HDFC                            673

AXIS BANK                    429

TECH MAHINRA             476      

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