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Sensex: 32390 -194.30 Gold: Rs.29611.00
Nifty: 10146.5 -64.30 Silver: Rs.40170.00
3M Team
 Type : Equity | Source: IndiaNotes.com | 18 Oct 2017
3m Team
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Daily News Letter 

18TH  Oct,, 2017

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Nifty Above 10200 target 10500 10700

Bank Nifty – Above 25200 target 26500 +

 

Due to long weakend –

Time for consolidation

Trade Low volume

 

Nifty - Below 10180 – first sign of correction

 

Market Outlook

Market are continue to making new high and over all trend is bullish but time to pause and consolidation time as long weekend due to Diwali Festival.   Best way to no fresh trade on today trading and profit  booking is a best strategy and money at home and enjoy.   Wish you happy and prosperous Diwali.

Crypto Currency

Remember we told bottom around 3000  and looks fresh up move towards 4000 and last and final hurdle 4300 thereafter new high and once takn  out another 20 percent up move.

Rally from 3000 $ 5800  $ gained in almost 2 months.

Nifty Spot

Consider support   10200-10180, resistance10268-10300

Nifty Future

Buy on decline around 10200-10205 with stop loss 10150 target 10250-10280

Bank Nifty Future

 Bank nifty continue in bullish trend , however almost 900 points rally seen in last few trading sessions.  We may consider support  2480-24500  range and resistance 24850 24900.   Time to book profit and left for trading for Monday with a new zeal,

PSU  BANK

INDEX

Trend is down but now over sold  and some recovery in front line PSU bank likely.  Consider support 3000-2950 and resistance 3080-3100  in near term.  Some short covering likely.

Pharma Index

 Consider support 9300-9350 range and up side open towards 9800-10000 mark.  Dr Readdy Lab Sun Pharma, Aurbindo Pharma, Cipla, and Divis Lab very hot and any dip to go long side.  Very Hot.

Metal Index

Consider support 9300-9350 range and up side open towards 9800-10000 mark.  Dr Readdy Lab Sun Pharma, Aurbindo Pharma, Cipla, and Divis Lab very hot and any dip to go long side.  Very Hot.

 

OPEN INTEREST ANALYSIS

Long Side

ACC, Bajaj Auto, DLF and Hindustan Zinc.

Short Side

Zee, Star, Axis Bank and Mothersonsumi

 

 

 

STOCK ANALYSIS

Axis Bank

Result below  expectation, but do not panic at opening bell.   Decent support 480-490  holding above decent opportunity to long side.

VEDL

52 weeks high – buy on dip only

Tata Steel

Up move continue. Resistance 720 and major   750.

Bharti Tele

After consolidation of 8 years,  Target 600  +

MassServices

New listing today  - after 10 minutes excellent opportunity to sell side with stop loss 20 points.

HDFC Bank

Buy on decline

Federal Bank

Break out with volume   - above 120  very hot.

HDFC Ltd

Decent support 1730  + if not break……………..

Ultra Tech

Yesterday we bought at opening bell and sold 100 points +

Cipla

Very hot  and buy side.

NIIT TECH

Panic to buy side

 

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DISCLAIMER : Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only. NOTE WE HAVE NO HOLDINGS IN ANY OF STOCKS RECOMMENDED ABOVE