Market out look dated 6th April 2018
Bullish Break out in Nifty and Bank Nifty.
Market out Look : Nifty open with strong note due to positive in global market and sustained buying interest till the end of Thursday sessions it gained almost 200 points and almost covered all yesterday losses. Now momentum developed in market and any dip or consolidation to time to buy side. Pvt. Bank and Bank are looking good and buying opportunity.
Nifty : Finally break out upper level and managed to closed above 10300 . Now we may consider short term trend is bullish with consider support 10276-10250 as long as these level hold positive bias continue in market, higher level resistance find around 10380-10400-10450. Remain buy side.
Bank Nifty Future : Bank Nifty opened with positive note and almost closed with a gained of more than 600 points due to short covering and fresh buying and able to closed above 24500. Now we may consider support 24500 and rally likely extended towards 25000-25100. On the down major support 24000 to 24200 range watch out.
Some FO Ques :
Long Call : Can Bank, Bank of India, Apollo Tyres, VEDL, Excide, LT and Shriram Transport.
Short Side – Marico, Cipla and PC Jewelers.