25 June 2018


"BUY NIFTY 10800 CALL @ 28 TGT 39/52"
"SELL NATIONALUM FUTURE BELOW 62.80 TGT 62.20/61.40 SL 63.70"
Today market was like sea of red with few green islands. Expiry week has begun on bearish note after, nifty future has opened at 10874 but after making a high of 10819 it came down to 10746 and finally closed at 10759 down by 74 points. The Nifty has stuck in a broader trading range between 10700 and 10820 levels since last eight sessions. It failed to hold above the previous day’s high of 10850 and slipped towards the 10725 level due to US Treasury department announced its decision to scrutinize Chinese investments in sensitive US industries concerned with economic and national security.
As we approach F&O expiry, rollover-centric activities will dominate the week ahead. Now Nifty requires a decisive range breakout above 10850 or below 10700 to commence the next leg of rally.  If it manages to hold above 10830 , only then an upward move could be seen towards 10875 and then 10925 levels, while a drift below 10,700 level could take it towards 10675 and then 10,630 levels.  Though Nifty has attempted to move past the key resistance zone, it still rules below the 10,850 mark. This level, therefore, remains critical for the coming week. It would be important for the Nifty to breach this level on the upside for any meaningful upward move. Unless this happens, it may slip into some more consolidation.
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Resistance: 10850, 10875, 10900
Support: 10700, 10675, 10650

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