Market Outlook


 Bullis likely come back in Street Today

And concur 10552  of previous TOP 

Market Outlook Today market are open with good note and whole the day whold 10440 mark and last one hrs strong buying forces due to move in Bank Nifty and able to closed 10500 mark.  Over all broad based buying seen in market and ready for fresh up move in new year.
Crypto Currency Buy Ripple, Etherum, Dash .  Avoid Bitcoin.
Nifty Spot Bullish view with consider support 10500, crossover 10513 over all buying towards 10550-10560, thereafter power ful recovery in market.

Major support 10300 whereas highest put hold.

Nifty Future Intra day dip to buy side with consider support 10500-10480. Crossover 10560  and stay above  non stop target 10600 10610 likel.

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

Bank Nifty Future Consider support 25300-25350, resistance25700  crossover  over all buying and short covering in market.  Any dip to buy side.  Continue under perform against Nifty but ready to move.

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

PSU  BANK

INDEX

Strong recovery seen in all PSU bank due to infusion of funds by the govt  and almost gained more than 100 points and closed nearly 3720 mark.    Upper side multiple resistance on chart which is placed at 3800-3850 mark.   However, major short covering seen in SBI, PNB< Bank of Baroda. Avoid Mid cap banking stocks and try to exit whenever get opportunity.
Pharma Index Trend is very bullish and lower level buying opportunity likely continue with consider support 9400 and up side open towards 10000  mark  Dr Readdy Lab, Sun Pharma, and Aurbindo Pharma looks good.
Metal Index Big move and almost closed all time high and index closed above 4100 mark.   Very Hot  Tata Steel, JSW Steel, VEDL, Hindalco and many more.
  OPEN INTEREST ANALYSIS
  Long side    IDBI, Jain Irrigation, Jindal Steel, Cmins, Titan, ACC M&M Finance, Ambuja Cement, SBI  PC Jewellers, Titan.

Short side  :      Apollo Hospital, BPCL, Eicher Motor, IGL, Bharat Forge.

    
  Important point
Relcom Any dip to buy side  .
BOB Short covering continue.
PNB Short covering continue.
Maruti Ltd Now time to cool off and at lower level accumulate in small lots.
DHFL Ready  to fly…..
Century Text. Ready to Blast.
Sun Pharma U Turn from weekly level 562………….
Dr Readdy lab Ultimate target 2700   +   buy on decline with stop loss.
Grasim We are long 1135  – Heavy short covering yesterday.
Rel Infra Ultimate cross 620 + in coming days.
DLF Ready to move.
HDFC Bank Some weakness but lower level to buy side.
Bank Nifty Heavy long seen and almost added 1.56 lacs shares.
Eicher Motor Selling continue and fresh short seen.
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