nifty

Market Outlook: On global front, US has imposed additional sanctions on Iran  which would further escalate Middle East tensions. Global markets remains flat and are awaiting the result of meeting between US and Chinese Presidents at G20 summit this week. US secretary of state Mike Pompeo will arrive in India today for a three day visit, which will set the tone for relations between India and US.

Market awaiting some trigger from the upcoming Budget and progress of Monsoon. We expect markets to remain in range of 11650 to 11850 and only a decisive breakout on either side will give a direction to the market. 



\Today nifty levels----11667  is 20 dma support can fall below this level can come to 11600 11550 and upside 11760 can give hope to market to move towards 11800

200 dma below and nifty

On the downside, the 50-DMA at 11,687 will be a crucial level to watch, as any breach of this mark will bring in some more weakness to the market. On Monday, the 11,770 and 11,830 levels are likely to act as next resistance points. Support should come in at 11,669 and 11,610. 

Wipro, Voltas, UPL, Va Tech Wabag, Symphony, Sunteck Realty, SRF and Sonata Software traded above their 200-DMA 

      : Zee.... Short below 338 stop-loss 349 1st target 326 2nd target 313: Escorts short below 541 stop loss 555 first Target 519 2nd target 499: IndusInd Bank short below 1417 stoplos 1444 target 1348 1330: Sun Pharma short low 388 stoploss 396 target 36 8,344

Stocks In F&O Ban Period: DHFL, IDBI, JETAIRWAYS, PCJEWELLER and RELINFRA.

NSE Nifty: (11691) The support for the Nifty is 11630-11600-11570-11498 and the resistance to the up move is at 11730-11770-11810 levels.


It was certainly not the kind of start for the week, most of the traders would have wished for. There was sustained selling seen throughout the week and importantly, we could see broad based participation in this decline, which generally does not bode well for the bulls. We have slipped below the key support of 11769 and extended the correction towards 11650. Since last few days, there has been no respite for this downward move; but looking at the broader picture we are still not convinced with the same. Hence, we advise traders not get carried away by this correction and should ideally be prepared for an upward swing if the buying emerges at lower levels. On chart, we can see a formation of bullish ‘Wolfe Wave’ pattern and as per the requirement, 161% retracement of the recent up move coincides around 11630 - 11610. Going ahead, we will not be surprised to see this fall getting arrested around the mentioned support zone. Hence, one should avoid fresh shorting now and should be prepared with potential candidates which may give decent relief moves. Positionally, we remain bullish as long as the gap area created after exit poll numbers remains intact and probably, we are in the final leg of time as well as price correction. Hence, we continue to advise avoid shorting and rather be prepared with potential candidates that can give decent up move from here on. For the day, support remains at 11640 and on the higher side, initially the bounce back should extend towards 11780-11820 levels. With continuation to our recent commentary.

TECHNICALLY SPEAKING.

Let’s get into a bit of technical now. If we refer to our last couple of trading days, we had mentioned about the formation of ‘Bullish Wolfe wave’ pattern in Nifty on hourly chart. As per the requirement, the ‘Potential Reversal Zone’ of this pattern was at 11630. Since last three days, index has been rebounding sharply after making lows precisely around this point and yesterday finally this pattern has showed its significance. In addition, the higher end of the upward gap area created post the exit poll numbers was around 11591 and we were of the firm opinion that this gap area will not be violated. Thursday’s colossal rally has validated this contradictory opinion and now we expect this upward trajectory to continue towards 11900 – 12000 in coming days. On the flipside, the intraday support is now seen at 11700 – 11500.

nifty

Today’s session was more like a roller coaster ride, where the index opened positive at 11744, then showed some strength in morning trades & made a high of 11802, but the sentiments turned pessimistic in late afternoon trades and index started drifting lower at nifty went till the low of 11625, however the market regained its momentum in the final hour of trade and finished the day on flat note at 11691.
Chances are we would see a gap down opening for tomorrow. It could well open below the today’s closing of 1161.If this index were to fall below 11625 then it could weaken even further. In that case, it could well fall further to test 11600-level shortly. In case of any recovery swing, unless it is able to cross 11755 through 11825 range such recovery swings would attract selling at higher levels again. Immediately, once it falls below 11625 through 11600 it would start showing more weakness. The support at 11555 would be quite crucial for if that gets taken out decisively it is likely to come down to test levels close to 11500 as well.

Brief Fundamental Update:

·         Fed has turned dovish after disappointing economic numbers in the recent past, thereby raising the prospect of rate cuts by the Fed in the near future which is supportive for gold.

·         US-China trade war is one of the primary reasons for the distress amongst major economies. Even though U.S. and Mexico trade war tensions have started to ease, US-China trade war concerns are keeping investors on the edge.

·         Geo-political uncertainty in the Middle East specifically due to the ongoing tiff between U.S. and Iran is also adding a premium to gold’s price.

·         Central Banks have started to accumulate gold and that could keep the yellow metal prices supported at lower levels.

·         There has been a significant rise in SPDR holdings and the CFTC data also suggests speculators remain net long.

Price Outlook

·         Gold has given a breakout above $1365, a clear close above the same could lead to a sustained upmove towards $1435-1440.

·         Domestic gold prices I also holding firm above the break out levels of Rs.33400 and this could trigger further upside in price towards Rs.34030 followed by Rs.34400 zone in the short term.


·         We continue to maintain our medium term target for gold at Rs.38000 and Rs.40000.

nifty

It was tough day for bulls. Bulls could not continue the good start as nifty dropped till the level of 11641 but at the end bulls again came in to the picture and managed to settleabove 11675 mark. Nifty has started the day at 11677 made a high of 11727 and low of11641 & finally closed the day at 11691. 
Nifty is still in a consolidation range and support lies around 11630 -11600 levels. Going ahead, this support zone would be closely watched by the investors. A sustainable move below this would result into an extended correction. However, in my sense, Nifty would probably move higher and immediate resistance is now placed in the zone of 11730 - 11780 levels.

 Global Markets open on strong note with over 2 % gains after US president tweeted to meet Chinese President at G20 Summit next week and European Central bank’s President statement of easing monetary policy if needed . Markets will be eagerly awaiting US Fed interest rate decision which will be announced today mid-night (ISD) whereby market are expecting 25bps interest rate cut .  On Domestic Front 10-year G sec yield have been declining sharply and closed at 20-month low at 6.80% which is very positive for banking sector. Market Outlook looks positive on strong global cues and sharp correction in bond yields.

Nifty level

Fitch has downgraded India growth story and level of nifty to watch 11600, 11550  and  fed said it will monitoring the situation  if necessary they will cut rate but not compulsively   Fitch reduced global as well as India’s growth outlook by 10 bps and 20 bps respectively. FII continue to be sellers although small for the last few sessions. Market outlook remains cautious with negative bias. . Globally market is awaiting for Fed Policy decisions scheduled on 19th of June.




Nifty to watch 11600, 11550.Till this level holds, it wont be wise to assume that nifty up move is over and a big down move has commenced. However break (and sustained trading) below 11550 will change the medium term to down and could invite further selling and weakness. After exit poll results, nifty had posted a huge gap up on intraday charts (11400-11600). If this gap area fails to provide support then there is a possibility that entire gap is filled (which means retest of 11400). So for now, Nifty remains weak hence one should not be in a hurry to go long but wait to see if market takes support level and stabilizes around current levels and enter only when it starts exhibiting signs of strength.

Monday nifty level and future and option trade

Market consolidated last week  on fears of USA – INDIA trade war after India decided to put retaliatory tariffs on 29 US import items . Sentiments have weakened after Geo Political tension in middle east , Domestic liquidity issues , stalemate in US china trade talks . Going forward Markets will be driven by Fed monetary policy on 19th June and GST council meeting on 20th June . Market continues to trade in a tight range between 11750 and 11950 levels, only breach of this level on either side will give market a direction. Outlook for the day remains range bound. We continue our buy on dips strategy with selected stocks.

    On Monday BELOW 11820 NIFTY CAN MOVE TO 11770 and  fallowed by11676 and Nifty is buying only after covering 11865 with target  of 11923  11960.

1.RBL Bank Ltd

 RBL BELOW 627 SL 633 TRAG 577

RBUL BUY ABOVE 580 SL 571 TRAG 633. 649  IS SHORT HURDLE CAN CONSOLIDATE HERE CAN GO TO 677

2.Indusind Bank Ltd

Indusind Bank Ltd IS BUY ABOVE 1388 STOPLOSS 1365 TARGET 1470 1509

 3.TATA STEEL

TATASTEEL IS SHORT BELOW 494 SL 503 TARGET 466

TATASTEEL BUY ABOVE 515 SL 505  TARGET 538

 4.MCDOWELL-N

MCDOWELL-N ABOVE BUY 543 SL 538 TARGET 570

5.MANAPPURAM FIN

SHORT BELOW 139 SL 144 TARGET 130 ,122

Today's nifty level and future and options Trade

Today nifty support is 11888 below 11888 can drag to 11864 11820 and above 11923 cam move 11970 a resistance of nifty fallowed by 12000 12040.

Buy ftu hdfc bank above 2440 sl 2427 trag 2470 2500
Escorts buy above 585 sl. 575  trag 603 633
One can buy ce of escorts 630 and hold 

Today Prediction of Nifty with future and option trade

 Global markets are trading flat to negative and FII were sellers yesterdays for Rs 1000 crores. Local markets continue to be in a range and waiting for trigger to take a direction. Crude Prices have corrected and now trading at $ 60 which will be positive for markets as well as specific sectors like OMCs, Paint and Tyre. We continue our buy on dips strategy with selected stocks. As mentioned yesterday IT and FMCG sector were positive and Metals have shown some technical pullback as well

Actionable :  Buy United Spirits , Tata Steel  , Bata. Titan and Exit Indusind Bank.

Nifty can be short below 11888 (THE BIG RESISTANCE  OF NIFTY) WITH A TARGET OF 11820 , 11750.





Nifty can be buy above 11923( the upward movement indicate by nifty) WITH A TARGET OF  11970  12040,12100 ,12249

Today Prediction of Nifty with future and option trade

BUY NIFTY 27June2019 FUT CMP 11928.9 SL 11905 TGT 11980.45




Bulls are back on the driver seat & took nifty to 12000 mark. . However, it failed to hold at higher levels and closed at 11965 near the opening mark 11959 by forming a Doji candle on the daily scale.  The index has been forming multiple Dojis since last three sessions, but at the same time making higher highs and lows, which suggest every decline is being bought into, while resistances are intact at the upper band of the trading zone. 

Markets are indecisive for the last 2 -3 trading sessions and are awaiting for some trigger to take a direction. On global front US president has again tweeted of increasing tariffs on Chinese imports. We expect Indian Market to remain sideways with a positive bias. We are not witnessing any sectorial outperformance however few sectors looks good going forward like PVT Banks, IT and FMCG are holding the markets as of now. HDFC BANK ADR has closed at all-time high levels.


Additionally markets would be keenly watching for the outcome of GST councils Meet on 20th June and Union Budget to be held on 5th Jul
In the near term, we continue to be cautious on the market and expect consolidation. Macroeconomic data (Inflation and IIP) scheduled this week will be crucial as RBI recently raised its inflation range and indicated towards concern on industrial growth. In addition, global indicators (crude oil prices and currency movement) will also be on investors’ radar. Now, it has to continue to hold above 11890 mark to witness an upward move towards 12050 and 12100 levels, while on the downside supports are seen at 11870 and then 11750 levels. 

Today Prediction of Nifty with future and option trade

Global market are all trading in Green. Yesterday domestic market closed positive supported by defensives like IT and FMCG stocks. NBFC remain in focus as DHFL continue to make repayments while case against Indiabulls Housing Promoter about siphoning of funds would dampen sentiments. Overall Outlook remains Positive with buy on dips strategy in selective stocks.




 BUY NIFTY 27June2019 FUT CMP 11926.25 SL 11901.00 TGT 11977.00
: BUY HEROMOTOCO 27June2019 2800 CE CMP 56.2 SL 35 TGT 168.6



Nifty can be buy above 11923( the upward movement indicate by nifty) WITH A TARGET OF  11970

 Nifty can be buy above 11923( the upward movement indicate by nifty) WITH A TARGET OF  11970 , 12040, 12100

1..  Dabur--Buy above 408 Stop loss 400  Target 418, 433


    .

2.     Escorts is making R Wave in the daily charts  So It can be buy Above 593 with a Stop loss of 583(STOP LOSS MUST) and it can kiss To 603 , 613 and 633

                                                              

monday option

option player buy Indus sind call 1620 stoploss23 cmp 31 target 45




option player buy balakrishan call 800@21stoploss 16 target29

Buy nifty   11973 STOPLOSS 1950  TRAGET 12030

 BUY BANKNIFTY 27June2019 FUT CMP 31225 SL 31135 TGT 31405

NIFTY PREDICTIONS Along with Future and option

                                                 

  Nifty is playing hide and seek now a days and in simple worlds is caught in web of cross fires because of trade wars and war of words that comes like bullet everyday from U.S .In U.S, Dow and Nasdaq did best in last week because of U.S. stocks rise after a weaker-than-expected jobs report adds to argument for Fed rate cut.Trump suspends plan to impose tariffs on Mexico after reaching deal.                   

       

                                   Key factors that will keep traders busy this week:

                                                 UNION BUDGET
After the elections and RBI policy meet, the key event to watch out for would be upcoming Union BudgetFY20, which is scheduled to be announced on July 5 by new Finance Minister Nirmala Sitharaman.                             
                                                     Macro Data
The government will release industrial output data for April and retail inflation for May on June 12.
                                                  Crude Oil Price
Brent crude futures, the international benchmark for oil prices, gained sharply to close at $63.29 a barrel on June 7 on a likely production cut by the OPEC, but it lost 1.9 percent for the week on global growth worries and US-China trade war woes.
                                                G-20 MEETING
   G-20 Meeting is scheduled on  this month in japan where USA and China president can meet each other and possible some solution  on trade war.
                                             DHFL - NBFC Crisis
After IL&FS crisis, DHFL's default in debt repayment created a ruckus on Dalal Street last week hitting banks and fund houses which have exposure to its debt.
                                                     FIIs
Foreign institutional investors, so far, are net buyers in India to the tune of Rs 921.20 crore (excluding Friday's provisional data - selling Rs 479 crore) in June on top of more than Rs 68,000 crore worth of buying since February, which continued to play a supportive role in the market.
                                                     F&O Cues
Nifty, on June 7, took exactly support at the highest open interest (OI) point 11,800 which has 14.84 lakh shares with highest addition of 8.90 lakh shares as compared to previous session followed by 11,700 PE which has an addition of 4.88 lakh shares and total OI stands at 10.27 lakh shares.

On the calls front 12,000 CE has the highest OI of 19.06 lakh shares and addition was seen in 11,900 CE to the extent of 4.54 lakh shares followed by 12,000 Strike 3.5 lakh shares, while the second highest open interest stands at 12,100 CE which is 14.23 lakh shares.

Option data suggests a wider trading range in between 11,750 to 12,250 zones..


The main question is now what to do with nifty in coming weeks . The nifty is making R waves and s waves it mean we get easily target and stop-losses. now we must fallow the global news and right now nifty is dwindling around trump words   the best level to enter in nifty and exit are as fallow

Nifty can be short below 11888 (THE BIG RESISTANCE  OF NIFTY) WITH A TARGET OF 11820 , 11750.

Nifty can be buy above 11923( the upward movement indicate by nifty) WITH A TARGET OF  11970  12040,12100 ,12249

These technical levels are updated everyday before the market opens. Please use the levels for trading purposes. We master in reversal levels. This support & resistance can be used to exit & take an entry. These major support & resistance levels are reversal levels where the market may turnaround, hence can be used for entry & exit.

                                          Future and Option Recommendation

                                                              Escorts
                1.      Escorts is making R Wave in the daily charts  So It can be buy Above 593 with a Stop loss of 583(STOP LOSS MUST) and it can kiss To 603 , 613 and 633.

                                                             

2.   Kaveri Seed Company Ltd--- is making R Wave in the daily charts  So It can be buy Above  539 Stop loss 528 (STOP LOSS MUST)   Target  551,  559


 

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3.  Manappuram Finance Ltd---------
Manappuram Finance LtdCmp 133----  Stop loss 127( STOP LOSS MUST) Target 141  ,144

   4. Muthoot Finance Ltd-




Muthoot Finance Ltd---Cmp 615  Stop loss  608  target 630,  655

5. PC Jeweller Ltd===Cmp 62 --Buy above 64 Stop loss 59   Target 84

6.  Dabur--Buy above 408 Stop loss 400  Target 418, 433

7.  Indusind bank--Buy above 1571 Stop loss 1555  Target 1623


                             

8 .Bharat fin Cmp 978 Buy above 983---  Stoploss 977   Target   990,   1000

9. Tatasteel-------Buy Tatasteel above 500  Stop loss 494  Target 513 ,526
                              below 487 one can short Target is  480, 470 , 460  sl 494