14 June 2018

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 15 JUN 2018

It was tough day for bulls. Bulls could not continue the good start as nifty  dropped till the level of 10770 but at the end bulls again came in to the picture and managed to selltle above 10800 support level. Nifty future has started the day at 10823 made a high of 10834 and low of 10770 & finally closed the day at 10813. The US Federal Reserve on expected lines raised rates by 25 bps but hinted at 2 rate hikes in 2018 which led to some nervousness in the market.

The Nifty50 hold on to its crucial support placed at 10800 levels and made a bearish candle which looked like a ‘Hammer’ like pattern on daily charts. A Hammer which is a bullish reversal pattern is formed after a decline while a Hanging Man is a bearish reversal pattern. A Hammer consist of no upper shadow, a small body, and long lower shadow. A Hammer which is a bullish reversal pattern is formed after a decline while a Hanging Man is a bearish reversal pattern. A Hammer consist of no upper shadow, a small body, and long lower shadow. Investors are advised to remain cautious and a decisive breach of 10750 on Friday could extend the decline while strong resistance is placed at 10850 -10900 level.
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Resistance: 10850, 10875, 10900
Support: 10700, 10675, 10650

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