|Market out look dated 14th
Relief Rally facing resistance at every higher level.
High volatile- Buy on dips and sell on rally
Market out Look : Market with good note and intra day some sharp up move seen but due to some news of global tensions resulted heavy selling in market and made a low 10377, but again some buying and almost closed near the yesterday closing level. Over all trend is bearish and best strategy to sell on rise and strength and buy on dips.
Nifty : Over all trend is down with consider resistance 10450-10500, crossover and stay above up side target 10561 and 10650, down side support 10377, reak down lower level test 10333 10300 10277.
Bank Nifty : Smart rally from 24000 to 25000 +. Now consider support 24500-24350, and holding above up side open towards 25000 25100 in near term.
Open Interest Analysis :
Long Side : IOC, Bank of India, Pidlite, Ashok Leyland, Ceat, Hexaware
Short side – TCS, Apollo Hospital, TVS Motor, Ambuja Cement.
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