Daily Market trend dated 11th July 2018

Daily Market trend dated 11th   July   2018

  Strong Momentum – Now ready to test new all time high.

Market are finally break out in upside and made a high 10959 and closed above early trading range 10930 which indicate strong bull momentum and more upside in coming days.   Across the sector buying seen and any short will be a danger at the current level. Best way to locate buying opportunity in market.

Nifty Spot :

 Strong move  and finally closed above 10900, now today trading above 10959 up side target 10000 and 10050-11000  in short term.

Last week Trend High Low Close
Nifty Spot 10816 10604 10772

Bank Nifty Future :

  Above 26750 strong break out and ultimate target   27000-27100 mark easily.  Closed above 27000   towards new life time high.

Last week Trend High Low Close
Bank Nifty Future 26596 26065 26500

FO Ques :

 Highest Put at  10600-10700

Highest call seen at 11000-10800

Pur writing seen-  10800-10700

Call Writing seen at –  —

Long Side:    MuthootFinance, Excide, GAIL, Indian Bank, Yes Bank, Grasim.

Short side :      Indus Bank, IGl, Hero Motor, Ambuja Cement

Short Covering  :  Hexaware, Century Textile

Long Unwinding   :    SAIL

Pharma Index :

  Lower level do not short sell , any time strong bounce back on card.  Buy on decline Auropharma, Dr. Readdy Lab,  Lupin and Sun Pharma.

PSU  Bank Index :

  Support seen at lower level 2800 and resistance 2900,crossover it will show more power towards 2950 mark. Some buying seen in all front line PSU bank stocks.

 Happy Trading Hrs.

For Feedback/clarification/querry, simply drop us a mail at : backoffice.3mteam@gmail.com. Cell No.  9630466296 (also available on whatasapp

With Regards

3M TEAM Research

+919630466296 / 9301302732 


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