Market out look dated 15th


Market out look dated    15th

 Trading range continue in Market

Nifty Trading Range 10300 to   10500

Bank Nifty  – Trading Range 24000 to  25200

Market out Look   :       As expected  market open with down side gap and at mide of the day sharp sell off seen in market and almost tested previous support level  10333  and finally strong bounce back specially recovery lead by PSU Banks thereafter PVT sector Banks and market closed near to days high.  As today Bank Nifty expiry so high volatile market can not be ruled out.

Nifty   :          Trading range continue 10300 to 10450-10500.  Today support  10400 and 10380, as long as hold these level up side resistance 10450, crossover sharp move towards  10500-10530.   Strategy buy on dip and sell on rally.

Bank Nifty  :             Very smart move as expected holding above 24500 mark.  Now kconsider support range 24750-24800, up side resistance 25000-25100 whereas a supply zone, successfully crossover and stay above up side open towards 25500-25700-25750 whereas  corrective rally likely hault.

Open Interest Analysis   :

Long Side  :   Bank of India, Sun TV, OBC, TV 18, Bank of Baroda, Can Bank, Tech Mahindra, Union Bak

Short side – IOC, PFC and Marico.

 

www.3mteam.in

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