Market Trend :
Nifty Finally take support 10100 + and Bank Nifty 24500
As long as hold – any dip to buy side.
Nifty and Bank Nifty Looks break out at higher level.
Nifty Above 10550 + Bank Nifty 25500 + very hot
Market Out Look :
Overall trend is positive but intraday sharp correction seen and finally able to closed above 10500 mark which indicate short term trend have been change and ready to upper level. Down side smart money are coming in the market. Intra day any dip to buy side
Nifty Spot : 10513
Bullish candle on daily and weekly chart, consider support 10450-10410, upper side resistance 10550, once stay above decent up move on card. Trend Reversal Level 10368
Nifty Future : 1517
NIFTY 50 FUTURE – over all good and buy on dip strategy with consider support 10480-10450, upperside stay above 10500 gate open towards 10564 and 10600 and above.
Bank Nifty Spot : 25314
After made a low 24500 strong back and almost 1000 points gained within two trading sessions, so we may consider short term support have been established in market and on holding basis above 25500, upper side open towards 26000-26100-26500 in near term.
CNX PSU BANKS : 2707
Volatile movement with consider support 2600-2630 and almost able to hold for the last two week so we may consider short term support and as and when hold up side likely.
CNX IT : 14737
As we are bearish below 15600 and almost 1000 points losses seen and almost all stocks was down and selling pressure continue. Now time to book profit and avoid fresh long
CNX Pharma : 9774
After made a high heavy profit booking seen but near to 200 DMA and looks that over all good buying opportunity at current level or some decline of front line stocks with consider support 9000 mark. Auro Pharma, Sun Phalrma, Lupin are looking good.
CNX Metal : 3424
After weakness again showing some strength and almost U turn seen at lower level. As long as hold 3200 level no problem and remain buy side. Any sharp dip to buy side.