NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 30 JUNE 2022

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The Sensex and Nifty ended a four-day winning run in a choppy session on Wednesday, as losses in finance and IT outweighed gains in oil and gas meters. Broader markets mirrored losses in both major indices, each falling about half a percent. Dismal US consumer confidence data dampened investor optimism and fueled fears of a recession. Investors worldwide were awaiting key US GDP data later in the day for clues. The Sensex fell 0.28% to 53026. The 30-stock gauge lost over 560 points (over 1) to an intraday low of 52612. The Nifty also fell by a similar magnitude to 15799. Nifty ended in the negative zone after two day of gains as the late morning rally after a gap down open fizzled out towards the end of the session. At close Nifty was down 51 points at 15799. There is no clear direction in the market due to mixed global cues. While the easing of Covid restrictions in China has contributed to some positive sentiment, weak consumer data from the US has raised concerns about growth and inflation. Looking ahead, we expect market volatility to persist within a broader trading range. Markets will react to the US GDP data in early trades and then the focus would shift to the derivatives monthly expiration. With the nifty hovering around its crucial 15850 hurdle, the recent drop in the banking index points to more pain ahead. Participants should exercise caution and focus more on overnight risk management. Global stock markets tumbled for the second straight day on Wednesday, amid growing fears that policymaker’s intent on curbing inflation could plunge their economies into recession. Nifty has shown signs of a rally from the opening lows over the past few sessions. However, it is unable to build on the in-session gains. Nifty could remain in the band 15650-15925 for the next few sessions.

Resistance: 15850, 15950, 16050

Support: 15750, 15650, 15550

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After a gap opened on the downside, positive global peers lifted domestic indices while oil prices rose on renewed supply concerns. Benchmark indices ended unchanged in the volatile June 28 session. At the close, the Sensex was up 16 points to 53,177 and the Nifty was up 18 points to 15850. The weaker rupee and rising bond yields limited risk appetite from domestic investors. Gains in commodity-linked stocks and optimism over China's easing of Covid restrictions supported global bullishness. Among sectors, the oil & gas, metals and autos indices rose the most, while the consumer discretionary and telecom indices fell the most. Asian stocks opened weak but rose as the day progressed. Global stocks rose on Tuesday despite higher crude oil prices as China eased its strict Covid protocols and allayed investor concerns about global growth. Markets experienced a rollercoaster ride in intraday trading, but selective buying in IT, metals, autos and oil & gas stocks helped the major benchmark indices end up recovering and posting modest gains. The early upturn in European markets and the recovery in other Asian gauges also gave a boost to local markets. Technically, after an early morning sell-off, the Nifty took support near 15700 and rallied strongly towards later stages. It has also formed a small bullish candle on the daily charts. Nifty ended positively after a day of fighting. The upward gap on the daily charts from June 28th has been filled during the course of the day, thus offsetting this bullish sentiment to some extent. A break of 15950 is needed to build on further gains. In the event of a fall, 15650 can offer assistance. Nifty remained volatile throughout the day before closing with a green candlestick formation. Lower end held 15700-15600 short term support. We think the uptrend formation is intact as long as the index is trading above 15800. Above that, the index could rise to 15900-16200. On the upside, a new round of selling is possible if the index manages to trade below 15700. Below that, it could retest the 15600-15500 level. Momentum indicator RSI is in a bullish crossover and rising. Trend looks positive as long as it holds above 15600. On the upside, 16000-16200 could continue to act as resistance.

Resistance: 15900, 16050, 16200

Support: 15750, 15600, 15450

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The bulls maintained momentum for the third straight session as buoyancy in global markets boosted sentiment. The rally was led by IT stocks, which had been relentlessly sold off in the recent sell-off. While the turnaround in sentiment comes as a major relief, the optimism could linger for a few more sessions before the market turns volatile on worries of a slowing global economy due to interest rate hikes and continued outflows of foreign funds. The Nifty crossed the 15700-15800 hurdle zone with a gap opening. However, the index failed to build on early gains and found itself in a consolidation mode after the positive start. Falling inflation expectations and the easing of COVID-19 restrictions in China, which boosted global commodities, helped calm global market sentiment. Nifty won for a third consecutive year on June 27, but gave up some gains throughout the day. At the end, Nifty was up 132 points to 15832. Volumes on the NSE remain low, suggesting traders are unconvinced to make a big bet. Nifty has entered the 15875-16175 down gap area in the current uptrend but has so far been reluctant to build on gains. 15925-15625 could be the range for the Nifty in the near future. Currently, the market is trading near its key resistance level and the chart structure suggests that there is a strong possibility of a quick intraday correction from the current levels. For day traders, 15850 and 15950 would act as immediate resistance levels. Below that, the corrective wave is likely to continue to 15750-15650. On the upside, the index could rally to 16000 above 15950 breakouts. Contra traders can place a long bet near 15750 with a strict support stop loss of 15650. Moving forward, the index may stretch higher before experiencing a brief consolidation near 15650 -15850. On the higher side, the Nifty is expected to test the crucial psychological mark of 16000, where there is also 20-DMA. The overall structure shows that the reference index can trade sideways to bullish in the short term.

Resistance: 15850, 15950, 16050

Support: 15750, 15650, 15550

NIFTYBANK PREDICTION FOR NEXT WEEK 26 JUN TO 1JUL 2022

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Niftybank index closed the week sharply higher and it seems that the support at 32480-32000 seems to be holding. Niftybank index seems to be a better buying opportunity than Nifty as the support is better defined. If Niftybank index moves above 33,750 we should see some more upsides towards 34700-34800. Most socks within the banking space are in an accumulation phase.  We see a good quality positive divergence in Niftybank index, thus raising a comforting thought there could be a sustained rally in Niftybank index. The MACD has curled to though it still is in a sell mode. A break above 33750 will be a trigger to buy Niftybank index.

NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 27 JUNE TO 1 JULY 2022

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WEEKLY RESISTANCE FOR NIFTY: 15800, 16200, 16500

PIVOT POINT: 15500

WEEKLY SUPPORT FOR NIFTY:  15300, 15100, 14800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15750, 15850, 15950

PIVOT POINT: 15650

DAILY SUPPORT FOR NIFTY:  15500, 15400, 14950

DAILY CHART FOR NIFTY

Our market started the week on June 20, 2022 on a muted note amid weakness in Asian stock markets and followed a sluggish movement throughout the day. The benchmark index, the Nifty50, had a lackluster trading day, spending most of its time in a tight range with no clear direction. However, at the bottom of the tipping point, some traction was seen in the index, resulting in a positive close for Nifty with a gain of just 0.37% at the 15350 level. On Tuesday, June 21, 2022, the rise in global stock markets helped the domestic market become buoyant, with the benchmark index seeing a major move since the opening bell, lifting overall sentiment. The action certainly shows the urge of the D-Street bulls amid favorable conditions. The Nifty50 Index finally ended the day higher with gains of 1.88%, slightly below the 15650 level. On Wednesday 22 June 2022, weak Asian signals led to a subdued start in our home market, with the benchmark index having a gap-down open. The Nifty50 index continued to slide lower throughout the day and all of the pure pullbacks during the session were sold by the bears. Finally, the index ended the day slightly above the 15400 level with a fall of over 1.44%. On June 23, 2022, the Indian stock market experienced an immensely volatile weekly expiration session, with the benchmark index starting the session on an upbeat note. The index's initial brisk move was sold aggressively, pulling it towards the daily lows, but it soon rebounded from the lows, again buoying general sentiment. With all the days of rollercoaster rides, the Nifty finally ended the day in green with gains of nearly a percent, a bit above the 15550 level. Benchmark indices ended higher for the second consecutive day on 24 june 2022 with Nifty ending just shy of 15700. The Sensex closed 462 points higher at 52728, and the Nifty ended 142 points at 15699.

NIFTY: A STRONG SUPPORT WILL BE @ 15300; STRONG RESISTANCE LEVEL SEEN @ 16200

Equity benchmarks behaved contrary to our expectations as bearish global signals followed fears of rising global inflation and interest rate hikes weighed on investor sentiment. The pace of the decline accelerated on the break of the 15700 March low and continued to drift towards the 15200 level. We expect the index to gradually resolve higher in the coming months, extending the pullback towards the 16600 region, with a strong Support is placed near the 14800-14600 zone, which we expect to hold as it is an 80% retracement of the CY-21 rally (13596 -18604), at 14600. Hence, dips should be exploited, to build a portfolio by accumulating quality stocks in a staggered manner.

TECHNICALLY SPEAKING

After the correction of the past few weeks, equity markets ended this week with positive returns. Major key indices and most sector indices advanced over the week. The auto sector led the recovery amid softening commodity prices. On the other hand, the BSE Metal, BSE Energy and BSE Oil & Gas indices underperformed the broader markets. The correction in crude oil prices from the recent peak and the decline in commodity prices provided some relief to markets in an otherwise high global inflationary environment. The progress of the monsoon is an important factor to watch as a good monsoon would allay food inflation concerns. Equity markets are expected to continue reacting to news related to inflation, monetary policy and commodity price movements in the short term. Nifty ended the week with an inside candle. We see a bullish Harami pattern on the weekly chart. Since the pattern is a bullish reversal pattern, we can expect Nifty to see some upside in the coming days. Also, on the weekly timeframe, we see the candle close at the high of the weekly range. This is a bullish development. Meanwhile, Nifty failed to make a new low on the daily charts on June 16, 2022. This market reluctance to trade below the lows even after six days suggests that the market is in no mood to trade lower immediately. Nifty needs to break above 15900 to signal a rally to 16200-16500. Support in Nifty stands at 15500. A break below support and there might be a further drop to 15300-15000.

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Weak global markets and recession problems, according to the Fed chair, failed to discourage Indian stock markets. The domestic market shows the potential to maintain momentum in the short to medium term. Nifty recovered from the early afternoon sell-off on June 23 and closed higher despite fears of rising interest rates and a global recession. Finally, Nifty was up 143 points to 15556. Volumes on the NSE were in line with the recent average. Among sectors, Oil & Gas was the main loser, while Auto, Real Estate, Capital Goods, Telecom, IT and Healthcare indices rose the most. The advance ratio rose to well over 1:1. Small and mid-cap indices rose slightly more than the Nifty. Asian markets were mostly higher, although US markets were flat overnight. European equities fell and bond yields fell as comments from Federal Reserve Chair Jerome Powell and growth data in Europe stoked fears of a global slowdown. An indicator of economic activity in the euro area fell to a 16-month low. US stocks are heading for their worst first-half losses since the 1970s. Nifty appears to have bottomed higher at 15400 and is now set to make a higher high above 15750. A break down from 15350 could result in all bullish bets being removed from the table. Much of the current uncertainty led by the slowing economy and tightening monetary policy has been taken into account in the market, however FIIs continue to sell and limit the trend. Refined trend remains weak with resistance seen at 15850 – if not breached expect weakness to continue. The Nifty has recently entered short-term consolidation mode and accordingly is witnessing range-bound action. The index experienced strong swings near 15450-15550 on June 23rd. On the higher side, 15650-15750, which used to act as a support zone, is now turning out to be a resistance zone according to the principle of role reversal. The Nifty faces selling pressure as it approaches this area. Unless the 15700 level is taken out on a closing basis, the index is expected to remain in a mode of consolidation. On the downside, 15450-15350 is the near-term support zone, below which the index can test the recent low near 15200. Short-term volatility remains high. Overall, expect the pressure to continue while limited stock-specific, risk-defined opportunities are available. From a risk perspective, select auto, bank and mid-cap energy stocks look attractive. Expect continued selling pressure in the metals space.

Resistance: 15600, 15700, 15800

Support: 15500, 15400, 15300

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OR FILLUP YOUR NAME MOBILE NUMBER SEGMENT IN THE GIVEN FORM GIVEN HERE 👉👉👉 & SUBMIT IT, SO WE WILL CALL YOUAfter a breather, the bears took control of the markets, which ended in heavy losses. The benchmark started on a muted note, tracking weak Asian markets, and another bearish bias continued throughout the day as selling pressure mounted in metals, media and energy. Consequently, the Nifty closed 1.44% lower at 15413 levels. The broader markets, mid-cap and small-cap, closed in tandem with the benchmark. All sector indices closed lower. On Thursday, June 23, markets will initially react to the Fed Chair's speech scheduled tonight. Also, progress on monsoon, crude oil price and currency movements will be crucial to monitor. We reiterate our cautious stance on the markets and expect volatility to remain high in the near term. In the meantime, traders are advised to hold a hedging position while investors should focus on stock selection. Markets have fallen sharply below normal volume, suggesting a lack of decent buying to offset the selling pressure. Now Nifty has support at 15300-15250 while on upsides it might face resistance at 15600 and later 15700.

Resistance: 15500, 15600, 15700

Support: 15400, 15300, 15200 

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Markets continued the recovery for the second consecutive month, gaining almost 2%, following firm global cues. After an upbeat start, the benchmark moved from strength to strength for most of the day, however minor selling in the last hour erased some gains. Consequently, the Nifty closed up 1.9% at 15,638 levels. All sectors participated in the move, which saw media, PSU banks and metals gain maximum. The broader midcap and smallcap indices also closed higher, each up over 3.5%. Benchmark indices closed higher for the second consecutive day on June 21, with Nifty closing above 15,600. Finally, the Sensex rose 934 points to 52532 and the Nifty rose 288 points to 15638.This move has certainly taken some of the pressure off, but sustainability is key. Attendees eagerly watch the Fed's speech for clues, and the progress of the monsoon is also on the radar. With no negative indications in the market, the benchmark indices rose for the second straight day on Tuesday. Metal, state-owned banks and technology stocks were bargain-hunting after suffering heavy losses last week on fears of aggressive rate hikes. On the daily charts, Nifty has formed a promising bullish candle, supporting further upside from the current levels. However, the medium-term trend remains weak. For traders, support has moved from 15300 on Nifty to 15550 (and from 51200 to 52300 on BSE). As long as the Nifty is trading above 15550, the odds of reaching 15700 would become good. Another uptrend could also continue, which could take the Nifty to 15800. A decisive move above 15800 in Nifty can further fuel the rally into the 15900-16000 zone otherwise the decline would resume. Stocks, on the other hand, offer opportunities on both sides, so traders should plan accordingly.

Resistance: 15400, 15450, 15500

Support: 15350, 15300, 15250 

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Positive trends in global markets caused the domestic market to trade positively, with large caps gaining the most while mid and small caps continued to trade cuts. Benchmark indices ended the highly volatile session on June 20th on a positive note. At the close, the Sensex was up 237 points to 51597 and the Nifty was up 56 points to 15350. Upside was limited by prevailing inflationary pressures and concerns over monetary tightening. Among sectors, metals were the biggest laggards due to a sharp fall in commodity prices along with a slowdown in global and domestic demand. Markets finally breathed a sigh of relief and posted steady gains after initial optimism in major European indices led to selective buying in IT, financials and healthcare stocks. However, the bearish undertone can be read in the fact that strong selling in metals, oil & gas and capital goods stocks continued as concerns over a slowdown in growth caused these stocks to fall.

NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 20 JUNE TO 24 JUNE 2022

WEEKLY RESISTANCE FOR NIFTY: 15400, 15800, 16200

PIVOT POINT: 15100

WEEKLY SUPPORT FOR NIFTY:  15000, 14800, 14600

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15350, 15450, 15550

PIVOT POINT: 15250

DAILY SUPPORT FOR NIFTY:  15150, 15050, 14950

DAILY CHART FOR NIFTY

The weak macro factors related to rising inflation and upcoming Fed policy have wreaked havoc on the global stock market. The impact was also seen in our equities section, which started the week of June 13, 2022 on a weak note, with an initial drop of almost 2% that worsened throughout the day. The tepidness among participants was evident as the market showed no signs of reversal or strength at the lower levels. Finally, the benchmark index ended the day down over 2.64% to the 15774 level. The Indian stock market started with another gap to the downside on Tuesday, June 14, 2022, tracking the decline in global stock markets after confirming that Wall Street had reached the bear market milestone. However, our market retaliated shortly after the opening bell and gradually appreciated the momentum to march higher. Although hesitancy was felt among participants at the higher level, this detracted from initial gains. And with the market whipping action, the benchmark index Nifty50 ended the day down another 0.27% in the critical support zone in red. The domestic market got off to a slow start on Wednesday 15 June 2022 with the benchmark index remaining in a tight range for most of the period with no clear direction. Reluctance ahead of the upcoming Fed meeting was evident among market participants. Finally, the lackluster session ended on the downside, shedding 0.25%, just below the 15700 level. Our market followed the positive global stock markets and started on Thursday 16th June 2022 with a gap to the upside. However, no significant strength was seen at the higher levels and the benchmark index gradually slipped to break the critical support of the 15700 odd zone. The general sell off further put the damper on the market sentiment with the Nifty eventually ending the day down over 2% at the 15360 level. Even the most fervent FOMO gnome had a crisis of conviction as a number of central banks followed the Fed's lead in raising interest rates. Taiwan rose 12.50 basis points, the Bank of England rose 25 basis points and the Swiss National Bank shocked markets by raising interest rates by 50 basis points. It was probably the SNB that brought back the camels, because if the Swiss are worried about inflation, then we should all be. The Fed's policy statement, along with the updated economic outlook, solidified the Fed's move to a single-mandate central bank and underscored the priority of bringing inflation above all to 2%. With slower growth and higher forecasts for the unemployment rate, the Fed's latest economic forecasts underscore what we think has been a key pivot in its outlook as policymakers seek to actively contain demand. Indian equity benchmarks Sensex and NSE Nifty50 fell on Friday 17 june 2022 following a sell-off on Wall Street as caution persisted in most global markets amid growing worries about recession. Indian benchmark indices ended lower for the sixth consecutive session on June 17 with Nifty below 15300. At close, the Sensex was down 135 points at 51360, and the Nifty was down 67 points at 15293.

NIFTY: A STRONG SUPPORT WILL BE @ 14800; STRONG RESISTANCE LEVEL SEEN @ 15600

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The market is catching up with the reality that tight monetary policy is the only card on the table that will linger with high inflation. As a result, the global economy is bound to continue to slow, which will impact corporate earnings, as evidenced by the decline in US retail sales in the MoM. Valuations continue to trade on the slightly upside of long-term averages and FIIs continue in sell mode. Stocks trading at high valuations and sectors such as IT and metals are the most affected companies. In such a situation, the issue is capital preservation by investing in a balanced portfolio of equity, debt and cash. Markets saw frantic selling late in the trading session after a sharp fall in major European indices prompted investors to further trim positions. Rising interest rates to stem the risk of inflation and falling crude oil prices have investors worried the world could be heading for a major economic slowdown if demand falters. Markets plummeted on the weekly expiry day, losing over 2%, following weak global leads. 

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Indian benchmark indices closed lower on June 15, continuing their losing streak for a fourth consecutive month as market participants awaited Federal Open Market Committee (FOMC) meeting decisions expected later in the day. At the close the Sensex was down 152 points at 52541 and the Nifty was down 40 points at 15692. After a positive start, the market erased gains and remained volatile throughout the session, with selling in Power, IT, Metals, Oil & Gas, Real Estate and FMCG names. Emerging fears of stagflation and volatility ahead of the Fed meeting decision forced the market to close flat on a negative bias. An aggressive rate hike of 50-75 basis points has been largely priced in by the market, but updated economic and interest rate forecasts will guide the trend going forward. The Nifty remained volatile ahead of the FOMC meeting outcome. Index lower support is at 15600 where a fresh put write has been observed and if it fails to hold above there will be more selling pressure. The upper terminal resistance is at 15800, where the highest open interest is built on the call side. Banknifty had a range bound session and will see sharp moves on both sides post FOMC. The immediate hurdle at the top end is 34100 and a break will see short positions re-covered. The lower support lies in the 33200-32800 zone, which used to act as a demand zone.

Resistance: 15800, 16000, 16200

Support: 15600, 15400, 16200 

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Indian equity benchmarks Sensex and Nifty ended a volatile session lower on Tuesday, as global investors remained wary of the impact of late-breaking US inflation on already hawkish central banks and the broader impact on economic growth. Losses in financials, oil & gas and FMCG stocks dragged the leading indices lower, but gains in select IT, pharmaceuticals and metals meters limited the downside. Broader markets also failed to hold on to intraday gains, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling 0.2 % and 0.6%, respectively. India's equity benchmarks posted losses after oscillating between gains and losses for most of the session. Energy, oil and gas stocks slumped as Sensex and Nifty extended their losing streak into day three. The Sensex lost 0.29% (over 150 points) to 52693. The 30-stock gauge traded in a range of over 600 points between 53095 and 52459. The Nifty also fell by a similar magnitude to 15730. Nifty 50 closes the day above the good 15750 resistance zone and if the index stays above this level for upcoming trading sessions, we might see further upward movement towards the 15900 -16100 level which represents another resistance zone on the upside. Crucial support for Nifty 50 stands at 15600 while Nifty might face some resistance at 16200.

Resistance: 15800, 16000, 16200

Support: 15600, 15400, 16200

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The market crashed in full force on the first day of the week of June 13, 2022 as benchmark indices collapsed below their crucial levels on general selling pressures. Markets started the week with a sharp dip, continuing the prevailing correction phase. Fear of aggressive rate hikes weighed on sentiment and prompted a gap-down start, but the recovery over the past hour pared some losses. Investors have become concerned that central banks will raise interest rates more aggressively in a bid to fight inflation in the coming months, which in turn will weigh on economic growth and put pressure on margins. The correction in global markets is due to a double whammy of forthcoming interest rate hikes and central bank balance sheet reductions. Consequently, the Nifty index closed at 15774; down 2.6%. At the sector level, all indices ended in losses, with IT, metals and banks being the biggest losers. The broader indices also lost more than 2.5% each. All eyes would be on the CPI data to be released tonight. In addition, Wednesday's Federal Reserve meeting would add further volatility. Nifty has the March 2022 low, i.e. H. around 15,671 levels, almost retested and its collapse would pave the way for another drop towards 15,450 levels. Higher than expected US inflation data fueled the already battered market which was discounting a 50 basis point hike in Fed interest rates. The weakening rupee continued FII selling coupled with expectations of higher domestic CPI reads gripped domestic markets with fear. Markets were also bearish on continued strength in Brent crude prices, with 10-year bond yields rising to 3.20% from recent lows of 2.80%, and the expected CPI numbers. We will continue to trade with high volatility however medium to long term risk takers should start entering the market as this could be in the latter stages of consolidation. The fear and uncertainty was clearly visible in the Indian VIX which is up over 15% at 22.50. If the Nifty breaks below 15600 and closes it will technically be a major downside event for the market. In such a situation, the index would fall to the 15550-15450 level in the short term. It is prudent to reduce a weak long position below the 15600 level. Also, Banknifty could drop to the 32000 level if it finishes below 33500. In the event of a recovery, the 15950-16250 zone would act as a hurdle. We recommend using rebound to create shorts in the index until we see signs of a reversal. Stocks, on the other hand, present opportunities on both sides, so plan accordingly.

Resistance: 15950, 16050, 16150

Support: 15700, 15600, 15500

NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 13 JUNE TO 17 JUNE 2022

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WEEKLY RESISTANCE FOR NIFTY: 16300, 16500, 16700

PIVOT POINT: 16100

WEEKLY SUPPORT FOR NIFTY:  15900, 15700, 15500

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 16250, 16350, 16450

PIVOT POINT: 16150

DAILY SUPPORT FOR NIFTY:  16050, 15950, 15850

DAILY CHART FOR NIFTY

Our markets started the week on June 6, 2022 sluggishly as indicated by the SGX Nifty. Throughout the day, global signals improved greatly, but our markets did not move in unison. In the first hour, Nifty hit Thursday's low around 16450 and then stayed in a narrow range for the rest of the day with a modest recovery in the second half. Finally, the Nifty ended the session with a negligible loss just above the 16550 level. Similar to the previous session, we had a slow start on Tuesday 7th June 2022, convincingly below the 16500 level as reported by the SGX Nifty on displayed early morning. Later in the day, the weakness extended somewhat to sneak below 16400 crucial support towards mid-session. Fortunately, the corrective movement continued in the second half and indeed, with the help of a modest recovery in some of the heavyweights (particularly banks), the Nifty managed to defend the 16400 at the end. Global markets were looking somewhat cheerful on Wednesday morning 8th June 2022 and as a result we started the session with a decent upward gap a little below the 16500 level. In the early trades we started cutting gains and as we got closer to the RBI policy announcement, Nifty slipped slightly below 16300. However, after the announcement, the markets took off and within a very short time we were back in positive territory. At one point we even surpassed 16500 by a small margin. Markets were all set for a longer move but after mid-trade traders got nervous again and as a result we were back to the morning lows. Finally, the volatile session ended at 16350 with a loss of almost four tenths of a % from the previous close. The US markets had a weak session overnight and as a result the SGX Nifty indicated a sluggish start on Thursday 9th June 2022. Accordingly, our markets opened lower and showed the initial nerves, the leading index settled around the 16250 mark. In fact, some level of buying was observed in many of the heavyweight constituents throughout the day. This momentum accelerated in the second half of the day to end the session with over seven tenths of a % convincing gains above 16400. On Friday 10 June 2022, benchmark indices erased all of the previous days' gains, falling almost 2% after weakness in global counterparts amid fears of faster policy tightening. Investors are awaiting US inflation data due later today. The Nifty50 plunged 288 points, or 1.75 %, to 16,190 and the BSE Sensex fell 1,053 points, or 1.9 %, to 54,267 as all sector indices traded red.

NIFTY: A STRONG SUPPORT WILL BE @ 16200; STRONG RESISTANCE LEVEL SEEN @ 17000

The mood in the June series of Nifty remains weak. Selling advisable in the short term if the value increases. Only a mature trend reversal will change the monthly outlook. Select stocks are available at medium-term value levels while the risk/reward trade-off remains broadly skewed. Liquidity remains the main reason for the current correction phase.

TECHNICALLY SPEAKING

The Nifty50 can continue its momentum to higher levels as long as it holds 16300. Here's what the technical charts are suggesting. The 16300 level will dictate the trend for traders, above that the momentum is likely to continue into the 16500-16600 zone. A new round of selling is possible if the index trades below 16,350 which could lead to 16,250-16,200 levels. The Nifty has formed a long bull candle at the low on the daily chart, indicating the bullish penetrating line pattern in a bullish sign. Further upward movements are to be expected in the short term. A lack of strength in slipping below 16,400 eventually caused the market to stage a strong rally.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 10 JUNE 2022

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Stock Market Highlights: Indian stock benchmarks Sensex and Nifty rallied in a weak rebound on Thursday, driven by strength in oil & gas, financials, IT and pharmaceutical stocks. Both benchmark indices ended a four-day dry spell, a day after the RBI announced an expected 50 basis point hike in interest rates. However, weakness in metal stocks limited upside potential. Broader markets also ended the volatile session in the green, with the Nifty Midcap 100 and Nifty Smallcap 100 indices up 0.5% and 0.2% , respectively. Investors around the world awaited news from central bank meetings to get more clarity on the impact of worsening inflation on interest rates and economic growth. Sensex and Nifty ended their 4-day losing streak Thursday as bulls pushed benchmark indices higher. The Sensex rose 427 points, to 55320, while the Nifty rose 121 points, or to 16478. 

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 9 JUNE 2022

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Indian indices on Wednesday closed lower, extending run of losses, dragged by heavy selling pressure in market heavyweights Reliance Industries, Bharti Airtel, and ITC as RBI's monetary policy committee decided to increase repo rate by 50 bps to 4.9%. The Sensex fell 214 points to close at 54892, while Nifty declined 60 points to end at 16356. After today’s 50 basis points hike in the repo rate, the Reserve Bank of India still has 75 bps to go.  The RBI has raised its inflation forecast by a massive 100 bps, which shows that the central bank has anticipated every possible adverse effect. While the cash reserve ratio was untouched, it is still on the table to be used. In February policy, the RBI could take a pause to assess if the government’s fiscal position is changing. The new fiscal year budget would be out and the fiscal position for FY23 would be known. The RBI would want to assess how the government’s fiscal position for the next year would be.  It could resume its rate hiking cycle in April. Technically, the pattern signals a weak trend with range bound action. Nifty is currently placed at the edge of breaking below the crucial support of 16,300 levels (support as per change in polarity and daily 10 and 20 day EMA). But minor buying is still emerging from the lows.

Resistance: 16450, 16625, 16800

Support: 16300, 16150, 16000

 

NIFTY PREDICTION & OPTION CALL PUT TIPS FOR 08 JUNE 2022

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Indian equity benchmarks extended their losing streak to a third day on June 7 amid fears that the Reserve Bank of India will hike interest rates the next day when its Monetary Policy Committee (MPC) concludes its meeting. At the close, the Sensex fell 568 points to 55107 and the Nifty lost 153 points to end the day at 16416. Asian equity markets were mixed on Tuesday after a sell-off in US bonds on fears of higher interest rates. A surprise 50 basis point rate hike in Australia (the highest in 22 years) raised concerns about monetary tightening ahead of US inflation data and a European Central Bank meeting this week. Crude oil continued to trade at $120 a barrel, which could further fuel inflation. Not only CPI inflation but also US inflation would be closely watched by the Street this week. Volatility in the market forced investors to remain on the sidelines ahead of the RBI policy announcement as the market had priced in an increase of up to 50 basis points for the repo rate and CRR but any further action to limit liquidity had an impact would have on the market trend. Monetary policy measures aside, the RBI's growth and inflation forecasts would drive the market trend. We expect a rate hike of 40-50bps on June 8th and expect rates to hit 5.15% by August/October. The government's recent actions will help keep the rate hike relatively contained, although the determination of the final rate will be much more data-dependent given changing global conditions. Technically, the downside risk for the Nifty is 16620. If make-or-break support holds at 16620 then expect bulls to regroup with aggressive targets at 16875 -16950 with a week-to-week perspective. The Nifty 200-DMA can be seen at the 17250 mark. Traders should be particularly wary of interest-rate sensitive companies and favor less volatile stocks for day trading. On the index front, the bias will turn negative below 16400 otherwise the consolidation will continue with the upper band at 16550-16650.

Resistance: 16500, 16600, 16700

Support: 16400, 16300, 16200

NIFTY PREDICTION & OPTION CALL PUT TIPS FOR 07 JUNE 2022

Markets traded lackluster and ended almost unchanged amid mixed indications on 6 june 2022. The start was muted on weak global signals, but recovery in metals and selective buying in financials offset any losses. Consequently, the Nifty ended flat at 16,569.55. On the sector front, a mixed trend was observed, with real estate, media and PSU banks being the biggest losers. The broader indices also showed a similar trend and traded mixed. Indian stock benchmarks Sensex and Nifty ended a volatile session with minor cuts on Monday, falling for a second straight session. Gains in metals stocks and a weak recovery in select financials were offset by losses in IT stocks. Broader markets also weakened, with the Nifty Midcap 100 Index down 0.1% but its small-cap counterpart down 1 percent. All eyes are on the outcome of a bi-monthly review by the RBI, due later this week. The prevailing uncertainty on the global front, combined with caution about the outcome of the MPC meeting, is keeping participants on the alert. Signs point to further consolidation in the index so the focus should be on identifying the sectors/stocks and maintaining positions on either side. The market was cautious ahead of this week's credit policy announcement and as a result investors trimmed their positions in interest rate sensitive sectors such as real estate. Technically, the Nifty found support near 16450 but failed to capitalize on it. The chart's texture suggests that range-bound activity is likely to persist in the near term. For day traders, 16450 would be the main support level to look out for and above which the index could rally to 16625-16675. On the upside, a fresh round of selling pressure is possible if the index trades below 16450. Any further decline could see the index retest the 16375-16325 level.

Resistance: 16625, 16675, 116725

Support: 16450, 16375, 16300

 

Banknifty Outlook for Coming Week Expiry 9 june 2022

In the current series, Niftybank Future has been seen a long addition with its price up 1.39% and OI up 4% from Wednesday, transacting 0.97 lakh OI shares, which has moved up from 23.79 Shares fell to 22.82 lakh lakh. Bank Nifty's current series rollover is 9% today, while the Niftybank Put Call Ratio, a sentiment indicator used by traders to gauge market sentiment and sentiment, is currently 0.95 compared to 0.99 of the last week, indicating flat to positive Niftybank Put Options OI distribution shows that 35,000 has the highest OI concentration, followed by 35,500 and 34,500 which could serve as support for the current expiry and at the Call fronts 36,000 followed by 36,500 and 36,200 showed significant OI concentration and could act as resistance. On weekly options, call writing was observed at 35,000, 35,500 and 34,500, while on the put side it was at 36,000, 36,500 and 36,200 was observed. Options data indicated an immediate trading range between 35,000 and 36,500.

NiftybankOpen Interest Concentration

Niftybank Option OI Change