Market out look dated 4nd May 2018


Market Trend Market are continue in choppy but  large cap showing strength and any dip to buying opportunity but higher level be cautious .   As  Nifty already moved substantially so time to book profit and try to low position in market.
Nifty  Spot Downside support 10630-10650 Upside Resistance 10720-10750.   Stop loss long position  10600.

Intra Day Scaneario :     Trend bullish,  10650………

Weekly Scaneario :    Best : 10900  Worst case : 10550

3month Scaneario :  Best Case –11200 Worst case 9145.

Nifty Future Support nearly  10650-10660 and intra day decline to buy side with stop loss 10600 for target 10700 10750. In short term.  Closed Below 10600 first sign of weakness in market.
OI QUES  

Long Side –    Axis Bank, HDFC, Indus Bank, Divis Lab, VEDL, ICICI Bank

Short Covering :   Sun Pharma, PC Jewellers, Tata Eleci.

Short side :   Just Dial, Siemens, Jet Airways, HCl Tech, IGL, Voltas.

Long Exit  :   Tech Mahindra.

 

Bank Nifty Downside support 25500 Upside Resistance 25800-25850 + Stop loss for long position 25300  on closing basis.

Intra Day Scaneario :     Trend bullish, support   25000

Weekly Scaneario :    Best : 26000 – Worst case :  24800

3month Scaneario :  Best Case – 27500  Worst case 24500

 

Trading calls  :    Buy on decline at  25500-25510   + stop loss 25350  target 25600 25650 25700

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