NIFTY BANKNIFTY OUTLOOK & STOCK PICKS FOR 27 JUNE 2023

STOCKS SUGGESTION TO TRADE ON 27 JUNE 2023

SBICARD PEL  SUNPHARMA ASTRAL LAURUSLAB CUMMINS BLARAMCHIN HEROMOTOCO GMRINFRA M&M

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Nifty stayed within a 76 point range on June 26, repeatedly rising and falling before ending slightly higher. At the close, Nifty was up 25 points at 18691. Volumes on the NSE were lower than the recent average. Global equities mostly fell while gold rose after an aborted insurgency by Russian mercenaries cast doubt on President Vladimir Putin's authority and a sharp decline in financials more than wiped out gains in the energy sector on worries about political instability at the world's largest oil producer, Russia. Weak Asian and European signals dampened domestic market sentiment as benchmarks ended in a mixed range on selective buying of key industry stocks. Global markets dictate domestic trends and investors do not want to be in a rush to go long at a time of great uncertainty.

Nifty failed to follow the bearish formation on the weekly charts. There could now be a small bounce before correcting again. 18650 and later 18550could offer support while the 18750-18775 band could offer short-term resistance. Technically, after a short-term correction, the index saw range-bound activity near 18675 or the 20-day SMA (Simple Moving Average), a key support level. For day traders, 18725 would be the key resistance level, while 18650 could be the crucial support zone. Above 18775 saw another uptrend rally to 18800-18850. On the upside, selling pressure is likely to increase below 18675 and may ease by 18625-18575.

 Resistance: 18700, 18800, 18900  

Support: 18600, 18500, 18400

PERFORMANCE OF STOCK FOR 26 JUNE 2023

LALPATHLAB went up by 3% 

MCX  was up by%

MGL up by 2% we have given MGL 1030 CALL TO BUY @ 10 & BOOKED 13

LAURUSLAB up by 3.5% WE HAVE GIVEN LAURUSLAB 360 CALL TO BUY @ 2.6 & BOOKED NEAR 4

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