Market Outlook


Trading Range

 Nifty 10380-10400 to 10550

Today or Tomorrow range will break out in either side

Thereafter 100-150 points will move

 

Market Outlook Market are continue in trading range but shortly  range will be break out.  However, lower level to buy side and higher level resistance continue in market.
Bitcoin Correction likely continue  but any time it will bounce back

Ripple  (XRP)     At current level 2.31$ buy and forget which is likely another Bicoin in years to come. Presently in Cryptocurrency Riple is second in terms of volume. More than 70% holding of banks and financial institution. Some of our Indian Pvt banks already accepting .

Ripple likely Next Bitcoin.

Nifty Spot Consider support 10400-10390 and resistance 10500-10510 once crossover it will move sharply towards 10550-10560.   Below 10390  over all selling in market.

Major support 10300 whereas highest put hold.

Nifty Future Consider support 10400-10410 and resistance 10550-10560  break out this range will move in either side.

Major support  Jan -2018 –10391 – below only weakness.

Bank Nifty Future Trading range continue with consider resistance 25700-25750 crossover major up side, down side support  25200  break down more weakness and heavy selling pressure.

Major support of Jan – 24800 – till not  strong b ullish and likely test 26000-26500 in jan 2018.

PSU  BANK

INDEX

Consider support 3600  and resistance 3680-3700 range,  Sell on rise strategy continue in PUS Banks stocks like, SBI, Bank of Baroda,  PNB .
Pharma Index  After sharp rise some pause seen in  pharma segment. Consider resistance 9610 crossover major up side, down side support 9500-9480 watch out.
Metal Index Holding 3900   over all looks good and buy side.
  OPEN INTEREST ANALYSIS
  Long side    Jet Airways, Adani Entt, Hexaware, PC Jewerls Jet Airways Titan, Adani Ports, Indian Cement and Bata.

Short side  :    IGL, BPCL, DCB, Maruti, Voltas, Ajanta Pharma, SRF, Grasim and Dr Readdy Lab.

     .
  Important point
HEG Up move continue
Eicher Motor Only sell side.
Idea Buy side……………
Maruti Ltd  Heavy short sell on yesterday. Sell on rise strategy.
HT Media Looking good
India Cement Some more up side
Ashian Housing Once break…………………..
Unitech Lab Buy Side
Goa Carbon Very hot
Aarti Drug Time to buy with strict stop loss.
Bata India Very Hot
Jet Airways Ultimate Target 1000   mark.
HDFC Bank Lower level to long side for target…………….in this month 2050
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