Market out look dated 5th April 2018
Global War – Weakness in World Market.
Market out Look : As market yesterday closed very positive side and today open with a good note and almost tested previous high 10276 but during the market hrs news came of China and USA trade war and resulted across the sector selling seen in market and from the days high Nifty wipe out almost 180 points and Bank Nifty 600 points which indicate that higher level bears are full control and managed the market.
Nifty : Heavy selling seen on yesterday at higher level. Today resistance 10180-10200, down side support around 10100-10050-10000 and major support area of previous low 9950 till these level hold, sharp decline to buy side on intra day basis. Once break down these level 9950 decent opportunity to short side.
Bank Nifty : After a great up move on yesterday, today heavy selling seen in Bank Nifty at 24700 and almost wipe out 600 points at higher level. Now consider support 24000 break down more selling pressure likely, higher level resistance 10350 watch out.
Some FO Ques :
Short selling seen in Voltas 5.21 lacs, Hindalco 52 lacs, Bank Nifty 1.54 lacs, Tata Steel 22 lac, Grasim 4.50 lac, HDFC Bank 1.56 lacs, Reliance 5.85 lacs HDFC 4.96 lacs,
Delivery based selling seen in ICICI Bank – 1.09 crore, HDFC 17 lac shares, HDFC Bankl. 4.55 lacs, LT 6 lac, Yes Bank 47 lacs.
More details call