19 June 2018

BATAINDIA ROCKS...!!! NIFTY OUTLOOK FOR 20 JUN 2018

CALLS GIVEN IN YESTERDAY'S POST
"BATAINDIA 820 CALL ACHIEVED 1ST TGT 24 BUY GIVEN AT 19 PROFIT 5500 IN JUST 1 LOT
MADE A HIGH OF 26.50”
INFIBEAM NOT EXECUTED 
Bears took the charge on the dalal street and took the nifty below 10800 taking cues from the weakness in global stocks amid escalating trade spat between the US and China. The Nifty future has opened on a tepid note on Tuesday, tracking weakness across Asian markets. The US President's warning to impose a 10 per cent tariff on $200 billion of Chinese goods in a tit-for-trade trade war spooked global sentiment. At 9.26 am, the Sensex was trading 126 points lower at 35422. Nifty future was trading 33 points lower at 10766. The Nifty future has slipped below support level 10725 & closed at 10719.
Going into Wednesday trade, the market is poised in a tricky situation. We might see modestly positive to flat opening on Wednesday. Shorts are being added to the system given the fact that the support level 10700 remains in close vicinity at 10650, the market may seek to take some respite from the current spate of weakness.  On the other hand, the 10775 and 10825 levels will pose stiff resistance on the upside. Supports will come in at 10675 and 10635 levels. We recommend avoiding shorts and keeping overall exposures moderate while keeping a cautious view on the market.
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Resistance: 10775, 10800, 10825
Support: 10700, 10675, 10650

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