Nifty Above 10562 more bullish
Last and final Resistance 10705 – thereafter smart money will take new high.
Market out Look : Market are continue in rally mode once it was crossover 10450 and almost added 100 points. From the low of 9950 almost gained 600 points without pause and we are near to major supply zone which is placed at 10600-10650 region. Traders are advised to remain buy side and intraday dip to buy side, avoid any short sell.
Nifty : Nifty are continue in positive bias but near to resistance level. Yesterday it was made a high 10560 which is a 50% retracement of entire rally from 11171 to 9950. Now trade and sustained above 10560 up side towards 10705 which is a 61.8% of retracement of previous rally. Once trade and sustained above 10705, likely test new all time high in coming days. As result season already started so possibility can note ruled out.
On option front Highest put stood at 10400 followed by 10300. On the call side Highest calls stood at 10700 followed by 10500.
Intra Day Scaneario : Trend bullish, support 10500
Weekly Scaneario : Best : 10500–10640 – Worst case : 10350
3month Scaneario : Best Case – 10600-11000 Worst case 9145.
Bank Nifty Future : Bank Nifty are continue in positive bias. However from the low 23605 it was made a high 25427 and almost 1800 points gained from the lower level . Over all trend is bullish and any dip to buy side with consider support range 24800-25000 and resistance 25750-25800. Likely from that level bank nifty will pause.
Intra Day Scaneario : Trend bullish, support 25100 +
Weekly Scaneario : Best : 25600 – Worst case : 25000
3month Scaneario : Best Case – 25750 Worst case 23605
Some FO Ques :
Yes Bank – Fresh short and added 48 lacs.
Hindalco : longwere seen and added 38 lacs shares
Titan : Long side 8.88 lacs
LT : Profit taking seen
Grasim : Ready to fly long seen
Maruti : Heavy long unwinding and shorting opportunity.
ICICI Bank : Long side and added 53 lacs shares
Telco : Rise to sell side – short added 15.50 lacs share
DHFL : Long seen added 7.45 lacs
HDFC : Long seen at 6.84 lacs
VEDL : Long unwinding.
SBI : Short added – 17.40 lacs
HDFC Bank : Long added 4.15 lacs
Bharti Airtel : After long time, short covering and long added 15 lacs
Sun Pharma : short added 8.61 lacs
Reliance : Short covering by way 3.60 lacs
DLF : Long added 24.55 lacs
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