18 June 2018

NIFTY OUTLOOK & FREE NIFTY FUTURE TIPS FOR 19 JUN 2018

"BUY BATAINDIA 820 CALL @ 19 TGT 24/29 SL 11"
"SELL INFIBEAM FUTURE BELOW 150 TGT 148.80/147.20 SL 152.40"
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Tug of war between bulls & bears was witnessed in starting of week i.e. today & bears were the winner. Bears tighten their grip on the dalal street & took the nifty below 10800 mark, but the nifty was trading in very narrow range. The Nifty future has started the week from 10809 made a high of 10817 and low of 10781 and finally closed at 10879 down by 25 points. Total 36 points nifty future has moved in intraday.  The Nifty on Monday witnessed selling pressure from the word go and ended up a tad below the psychologically important 10,800 level. The index formed a Small Bearish Belt Hold candle and an ‘Inside Bar’ on the daily chart, as it traded inside the trading range of last session. Index may remain rangebound for some time, before seeing a decisive breakout.
It seems that tug of war between bulls and bears would continue for next few days to get a fresh leg of the rally. The trend of the market is intact to positive but if it sustains below 10800 then only a profit booking could be seen towards 10750-10700 zones while on the upside a decisive move above 10855 could commence the next leg of the rally towards 10895 then 10925 marks. We could not see Tuesday’s session as a sign of trend reversal. The index needs to stay above the 10800 level before it sees any bounce towards the 10900 level. 
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Resistance:  10835, 10875
Support: 10775, 10735

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