Market out look for 28th Feb. 2017
After smart move in last
series which was more than 350 points and made a new high, some smart profit booking in the
market and resulted market closed with negative bias on the even of new series
of March 2017. Over all trend is
extremely bullish till the nifty hold 8750-8800 mark there is no problem for
bulls and under control .
Nifty : After sharp move profit booking continue in
the market resulted it was closed 8896 with a loss of 42 points. Over all bullish trend and we may consider
decent support 8800 -8750 range whereas the highest put are held and smart
buying will be emerged around these level can not be ruled out. On the higher side resistance observed at 9000, once crossover and stay above up side
towards 9120-9200 likely in March series itself.
Bank Nifty : After made a new high some profit were seen in Bank Nifty resulted
all major indices players in selling mode like, Axis Bank, ICICI Bank, HDFC
Bank and SBI. Trend are indicate some
more down side and short term support nearly 20500, these levels will dictate
the trend in the market like, reversal or more selling pressure or stop
loss trigger in the market. Once break
20500, down side it will take support 20000-20050 whereas a highest put are established
so at that level good buying opportunity in the market. Higher side, resistance continue 21000 - 21500-21750 whereas the highest call are
held. So till the hold 20000 decent
opportunity to buy side.
Watch Out :
- Decline to buy, break out
stocks, ultimate target 600 + coming
: some selling pressure with
consider support 275-270 range
Hindalco : Buy on decline till hold 170 mark.
Reliance : Major up side in coming days and likely out
perform in market and new leader emerging.
Infosys : Good news on the card and buy side.
3MTEAM Research Ltd
Cell NO. 9630466296