MARKET OUTLOOK OF 23 JUN 2023

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Equity benchmarks Sensex and Nifty buckled under selling pressure for the second straight session on Friday as a bearish trend in global equities and concerns over rate hikes by central banks unnerved investors. The stock market looked like a sea of red on Friday as selling was witnessed across the board. Investor sentiment was impacted by the global central banks' hawkish stance. Adani Group stocks tumbled. At close, the S&P BSE Sensex stood at 62,979.37, down 260 points while the NSE's Nifty ended at 18,665.50, down 106 points,Besides, selling pressure in index majors Reliance Industries, Infosys and L&T also dragged the benchmark indices lower, traders said. However, the domestic market is not expected to experience a significant correction due to favorable domestic economic indicators and correction in international commodities prices to sustain earnings growth on a QoQ basis.Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Resistance:  18750, 18850, 19900  

Support: 18650, 18550, 18450

 

NIFTY BANKNIFTY OUTLOOK & STOCK PICKS FOR 23 JUNE 2023

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Benchmark indices fell in early trade on Thursday, facing heavy volatility, amid emergence of profit-taking and negative trend in the US markets.From the Sensex pack, Infosys, Power Grid, Wipro, Kotak Mahindra Bank, Tech Mahindra, Bajaj Finance, Hindustan Unilever and Nestle were the biggest laggards. Tata Steel, Mahindra & Mahindra, ICICI Bank, HDFC Bank, HDFC, Maruti, ITC and Reliance Industries were among the major gainers. In Asian markets, Seoul quoted in the green, while Tokyo traded lower. The US markets ended in the negative territory on Wednesday. Weak global cues following a retreat on Wall Street after the Federal Reserve Chair indicated that inflation still isn't under control, Indian equity markets closed in the red on Thursday. Selling was seen across all sectors.The broader NSE Nifty dropped 85 points to end at 18,771 as investors turned cautious with benchmark indexes at near record levels...
WE ARE DOING OUR RESEARCH..STOCKS FOR TOMORROW WILL BE UPDATED ANY MINUTE...STAY TUNNED

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Resistance:  18850, 18950, 19100  

Support: 18750, 18650, 18550

NIFTY BANKNIFTY OUTLOOK & STOCK PICKS FOR 22 JUNE 2023

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Although the domestic market hit record highs, it failed to continue its upward trend due to prevailing concerns about global issues and a delayed monsoon. Additionally, consecutive days of net selling by FIIs exacerbated market volatility while mid-cap stocks maintained steady gains. Meanwhile, global market sentiment was dampened as UK CPI inflation came in higher than expected, hurting investor confidence. It is solely the positive domestic fundamentals reflected in the markets that propelled the Sensex to a new lifetime high and pushed the Nifty closer to breaching its previous high. As global macro headwinds continue, both domestic and foreign investors will continue to place heavy bets on local equities as growth parameters improve. The rally failed to gain momentum as investors traded cautiously ahead of the Federal Reserve Chair's testimony before the US Congress later today. Benchmark indices closed higher on June 21, with Nifty at around 18,850. Finally, the Sensex was up 195 points, to 63523 points and the Nifty was up 40 points, to 18,856 points. About 1,672 shares rose, 1,750 shares fell, and 118 shares were flat. Technically, the Nifty is showing higher bottom formation on the intraday charts, which is broadly positive. For traders, 18800 would be the key support level to watch out for and beyond that, the index could rally to 18900-19000. However, a quick short-term correction is not ruled out if the index trades below 18775 and slides to 18750-18700.

STOCKS SUGGESTION TO TRADE ON 22 JUNE 2023

AUBANK COFORGE PNB LUPIN GNFC COROMONDEL  MANAPPURAM INDUSTOWER MARUTI NATIONALUM POWERGRID

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Resistance: 17400, 17500, 17600  

Support: 17300, 17200, 17100

NIFTY BANKNIFTY OUTLOOK & STOCK PICKS FOR 21 JUNE 2023

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Markets stabilized in a volatile trading session, continuing the prevailing trend. Initially, weakness in Asian markets weighed on sentiment, but the gradual recovery of select heavyweights not only erased any losses but also propelled the index higher. As a result, Nifty settled around the daily high at 18816. Among sectors, financials, IT and autos posted decent gains, while defensive stocks such as Pharma and FMCG performed modestly. Overall, the broader indices each gained almost half a percent. The market ended positively on June 20th in a highly volatile session when the Nifty was above 18800. At the close, the Sensex was up 159 points to 63327 and the Nifty was up 61 points to 18816 respectively. Nifty has respected the trend line support around 18,660 and has seen a steady recovery. This move shows that the bulls are in control and sentiment would remain positive until it holds 18550. Traders should adjust their positions accordingly, but suggest keeping an eye on the size of positions as there are intermediate fluctuations. For the Bank Nifty index, the bulls held a support level at 43400. Currently, the index is trading in a broad range between 43400 and 44000. A breakout on either side of this range is likely to result in trend moves. As long as support holds, if the 43400 level holds, a buy-on-dip approach is suggested. Once the index breaks above the 44,000 level, there will be strong short coverage to the upside towards the 45,000 level.

STOCKS SUGGESTION TO TRADE ON 21  JUNE 2023

WE ARE DOING OUR RESEARCH..STOCKS FOR TOMORROW WILL BE UPADTAED ANY MINUTE...STAY TUNNED

PERFORMANCE OF STOCK FOR 20 JUNE 2023

ADANIINT  SUGGESTED BY US ON THE TOP OF THE STOCK SUGGESTION LIST IS IN TOP GAINER🥳

PEL UP BY 6%🥳

SHRIRAMFIN ROCKSSS UP BY 6%

METROPOLIS SUGGESTED BY US ,IS UP BY 4% 

ICICIPRULI,METROPOLIS,PEL TRADES GIVEN BY US FOR TRADING

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Resistance: 18850, 18950, 19100

Support: 18750, 18650, 18550

NIFTY BANKNIFTY OUTLOOK & STOCKS FOR 20 JUNE 2023

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Nifty opened positively and attempted to scale new life highs but failed, leading to increasing pressure throughout the trading session. The index was observed making new lows on every hourly candle, followed by a small drop towards the end of the trading session. The index has formed a dark cloud cover on the daily charts depicting a small reversal pattern, suggesting further downtrend to 18600 visible once it breaks today's low in the next trading session. Domestic indices hit 52-week high amid weak global signals. Nifty posted an intraday profit after the open. However, the index was able to partially recoup some losses and closed in negative territory with a loss of 71 points at 18755 points. At the sector level, it was a mixed picture with PSU Bank, IT and Financial Services being the top performers. Nifty was just a tap away from its all-time highs as the index failed to sustain higher levels despite volatility. The focus remains on geopolitics this week as the US Secretary of State is due to meet the Chinese President today. While the Indian Prime Minister is due to visit the US later this week, it should result in defense deals and a strengthening of trade ties. Niche sectors such as insurance and pharmaceuticals could remain in focus after showing signs of recovery in their respective monthly data. NBFC is also in focus after slowing inflation and the recent interest rate pause. On the intraday charts, the Nifty is maintaining a higher high and higher low series formation, supporting further upside from the current levels. For traders, 18700 would act as an untouchable support level. Above that, the index could retest the 18860-18,900 level. On the other hand, traders below 16875 may prefer to exit the trade long positions as the index could slip as low as 18650-18625.

STOCKS SUGGESTION TO TRADE ON 20 JUNE 2023

ADANIINT  ICICIPRULI IRCTC METROPOLIS NMDC PEL SHRIRAMFIN BHEL DRREDDY HAL

PERFORMANCE OF STOCK FOR 19 JUNE 2023

YESTERDAY TATACOMM WAS THE 1ST STOCK WE HAVE SUGGESTED IN OUR STOCK PICKS FOR TODAY TO CHECK VISIT HERE

ASHOKLEY SUGGESTED FOR TODAY , UP BY 3%

MCX up by 2%

HDFCLIFE up by 3%

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Resistance: 18800, 18850, 18900

Support: 18700, 18600, 18500

NIFTY OUTLOOK FOR WEEK 19 JUN TO 23 JUN 2023

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Nifty formed a long positive candle with a small upper shadow on the daily chart on June 16, 2023 to indicate a breakout to the upside above the 18,800 level and closer to a new high above the 18887 level. Nifty has been making higher highs for the past 12 weeks and forming a bullish candle on the weekly frame. Now it needs to stay above 18775 zones to see an upward move towards 18850 and 19,000 zones while on the downside there is support at 18725 and 18675 zones. The India VIX was down 2.17% from 11.08 to 10.84. Volatility dropped, supporting the bulls at record high index levels. Options data points to a shift of a broader range between the 18550-19000 zones and an immediate range between the 18700-18900 zones.  Both Nifty and the hourly chart's RSI were able to observe a bullish triangle pattern that is able to sustain the strength. The MACD is seeing a bullish crossover which may give the index an additional boost going forward. Nifty traded within striking distance of its lifetime highs, closing comfortably above 18,800, which could push the index towards 19,000 in the coming days. Bank Nifty attempted to reverse the head and shoulders pattern formed on the daily chart on Friday. Once it breaks through 44300 and closes above, this pattern loses meaning. The 43600 puts sold at monthly expiry in June proved strong support for this index. Traders should hold onto bullish spreads and bullish positions for the next week and also look to open bullish short straddle positions in the money with compensation for next week's expiry.

STOCKS SUGGESTION TO TRADE ON 19 JUNE 2023

HDFCAMC 

LTIM 

MCX 

EXIDEIND 

BANDHANBK 

ASHOKLEY 

BEL 

COROMONDEL 

HDFCLIFE 

LICHSGFIN 

MFSL 

OFSS 

SBILIFE

NIFTY VIEW FOR THE COMING WEEK 19 JUNE TO 23 JUNE 2023🔎

WEEKLY RESISTANCE FOR NIFTY: 18900, 19000, 19200

PIVOT POINT: 18800

WEEKLY SUPPORT FOR NIFTY:  18700, 18600, 18500

WEEKLY CHART FOR NIFTY

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The Indian equity market has started the week on a mild note on 12 june 2023, defying the developments in the global bourses over the weekend. The benchmark index refrained from any decisive move and stayed in a slender range of 75 odd points throughout the session. Amidst the lackluster start of the week, the Nifty50 witnessed a muted closure with a mere gain of 0.21% and settled a tad above 18600 level. On 13 June 2023 the Indian equity markets started on a positive note tracking the sharp rally in the US bourses on the hopes of a pause in the Fed rate hike. The benchmark index stayed at higher ground throughout the session, suggesting a bullish undertone for our market. Though post the start, there was no major traction in the index and eventually, it settled a tad above 18700, procuring 0.62 percent for the day. Our domestic market has witnessed a decent start on 14 june 2023, taking cues from positive global bourses. Barring the initial hiccups, the bulls looked buoyant and took charge for the entire session. The benchmark index Nifty50 surged upwards for the third consecutive session and clocked the highest level closure in the current year at 18756 level by procuring merely a two-tenth percent gain. On 15 june 2023 mixed commentary post the Fed outcome on the rate hike led to hesitancy in the US bourses, which impacted the sentiments of our domestic indices. The uncertainty was quite evident in our benchmark indices, as they plunged to lower levels post a mild start tracking the positive Asian market. The breakdown in the BFSI counters led to a correction to the benchmark index and eventually, the Nifty50 index snapped the winning streak and settled below the 18700 level, with a cut of 0.3%. The markets closed at record high levels on June 16 as Nifty 50 gained 137 points to close at 18826. The Sensex gained 466 points to end at 63384. Nifty 50 is only 63 points away from an all-time high level. Investors also cheered the government's discussions with Moody’s Investors Service, seeking a rating upgrade from the global agency. Moody’s has currently rated India at the lowest investment grade of “Baa3” with a “stable” outlook.

NIFTY: STRONG SUPPORT& STRONG RESISTANCE LEVEL

Nifty as well as the RSI (relative strength index) has witnessed a bullish triangle pattern on the charts which can keep the strength in the stock intact. Nifty traded within the striking distance of lifetime high levels and managed to close comfortably above the 18800 level, which can push the index towards the 19000 level in the coming days.

 TECHNICALLY SPEAKING

Technically, the Nifty is still holding a higher high and higher low formation and is trading comfortably above the 20-day SMA (Simple Moving Average). On weekly charts, the index has a formed bullish candle, which also supports further uptrend from current levels. For trend-following traders, 18725 would be the most important level to watch out for, and above that the index could rally to 18975. Conversely, below 18725 or the 20-day SMA, any uptrend below which the index lies would be vulnerable. The market could slide down to 18650-18550. As long as Bank Nifty trades below the 20-day SMA or below 44,000, weak sentiment is likely to persist. Below that, it could slide to the 50-day SMA or 43200. On the downside, renewed uptrend is not possible until a break below 44000 and above that, the 44200 level might be retested.

NIFTY BANKNIFTY OUTLOOK & STOCKS FOR 16 JUNE 2023

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The Indian equity market snapped its three-day winning streak to end lower on June 15, with the 30-pack Sensex falling 306 points to 62921 and the broad-based Nifty closing below the 18700 mark. The Nifty closed 72 points lower at 18683. Globally, markets were spooked after the US Federal Reserve hinted at two more rate hikes despite hitting the pause button in the June meeting. Nearly all committee participants view it as likely that some further rate increases will be appropriate this year. The Nifty formed a bearish Engulfing pattern on June 15. This could be the first sign of caution after a long upmove; 18550 could be the next support, while 18775 -18800 could offer resistance.

STOCK SUGGESTED IN OUR YESTERDAY'S POST TO CHECK VISIT https://optioncallputtradingtips.blogspot.com/2023/06/800-pm-stock-picks-for-tomorrow-15-june.html

PERFORMANCE OF STOCK FOR 15 JUNE 2023

TATACHEM TOP LOSER DOWN BY 2%

L&TFH ROCKSSS TOP GAINER UP BY 6% 

VOLTAS DOWN BY 2%

FEDERALBK DOWN BY 2%

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

NIFTY BANKNIFTY OUTLOOK & STOCKS FOR 15 JUNE 2023

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The domestic indices rebounded after an initial phase of profit booking, driven by encouraging WPI inflation data and positive global cues, while selling in IT and banking stocks kept a check on gains. The favourable decline in US inflation, driven by lower energy prices, and speculation about a potential pause in the Fed rate hike campaign, brought comfort to global equities. However, the persistence of higher core inflation levels may compel the Fed to maintain its hawkish tone during today’s policy announcement with indication of a prolonged pause. Market ended Wednesday’s session in green. The Nifty 50 rose 39 points to 18755 and Sensex gained 85 points to 63228. Bank Nifty fell 91 points to 43988. Looking at the daily charts, we can observe that the Nifty managed to close in positive territory for the third straight day. It is slowly rising towards the previous swing high of 18778 which, once broken, will lead to another uptrend. The hourly and daily momentum indicators provide different signals that are likely to reconcile once we get a decisive move on either side. Interestingly, the bank ended Nifty in the red today. Overall, the uptrend is intact and we expect it to reach the 18800 level in the near term. In terms of levels, 18750 ​-18700 will act as the crucial support zone, while 18800 18850 is expected to act as the immediate hurdle zone. As for Bank Nifty, the index closed in the red today. Trading ranged tightly around the 20-day moving average (44,000). We expect Bank Nifty to hold this support and continue its uptrend. The short-term target is 44500.

STOCKS SUGGESTION TO TRADE ON 15 JUNE 2023

CHAMBLFERT

OFSS

HDFCAMC

GNFC

TATACHEM

TATACONS

VOLTAS

L&TFH

ATUL

FEDERALBK

ABFRL

ALKEM

PERFORMANCE OF STOCK FOR 14 JUNE 2023

YESTERDAY TATACOMM WAS THE 1ST STOCK WE HAVE SUGGESTED IN OUR STOCK PICKS FOR TODAY TO CHECK VISIT HERE

TATACOMM ROCKS WAS UP BY 4% ✌🏻✌🏻

OFSS SUGGESTED BY US WAS UP BY 3%  ✌🏻✌🏻

TRENT UP BY 2%

UBL UP BY 1.5%

DALBHARAT UP BY 2%

L&TFH UP BY 2.09%

CONCOR UP BY 2%

ASTRAL DOWN BY 2%

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

TATACOMM ON FIREEE 🔥

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YESTERDAT TATACOMM WAS THE 1ST STOCK WE HAVE SUGGESTED IN OUR STOCK PICKS FOR TODAY TO CHECK VISIT HERE

TODAY TATACOMM UP BY 4% 

WE HAVE PROVIDED TATACOMM 1640 CALL @ 34 & BOOKED IT NEAR 70

TO CHECK VISIT OUR OPTION BLOG CLICK HERE  

STOCK RECOMMENDATION FOR TRADING ON 14 JUNE 2023

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Below are Stocks which as per Our Research are likely to be Outperformers Tomorrow 13 June 2023 . To get specific CALL/PUT Recommendations contact us on 9039542248

TATACOMM

TRENT

UBL

DALBHARAT

FEDERALBK

INDIGO

L&TFH

OFSS

ALKEM

CONCOR

CUMMINS

DABUR 

SBIN

SRF

ASTRAL

The securities quoted are for illustration only and are not recommendatory . Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

HOW NIFTY WILL PERFORM ON WEDNESDAY 14 JUNE 2023 ?🤔

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Towards the end, markets staged a spectacular rally as bullish bets on real estate, metals and oil & gas stocks helped Sensex close above the 63k mark. Moderate inflation and strong IIP growth numbers coupled with expectations that the US Federal Reserve could hold interest rates steady at this week's FOMC meeting boosted sentiment. The market closed higher for the second consecutive day on June 13 with Nifty above 18700. At the close, the Sensex was up 418 points to 63143 and the Nifty was up 114 points to 18716. Nifty opened on a strong note after taking cues from the strong global markets. The index attempted to gain momentum throughout the day but struggled with a consolidated move over the next several hours. The second half of the trading session brought renewed momentum to Nifty, which surpassed 18710 with relative ease and closed near the daily high. Technically, the daily chart's Nifty has formed a bullish candle, which is largely positive. For bulls, 18650 would act as an untouchable support zone. As long as the index trades above this level, the positive sentiment is likely to last through 18750-18850. However, below 18650 the uptrend would be vulnerable and traders may choose to exit the long positions.

Resistance: 18750, 18850, 18950

Support: 18650, 18550, 18450

PERFECT PREDICTION FOR THE STOCKS!!!! 💪💪

 STOCK SUGGESTED IN YESTERDAY'S POST TO CHECK VISIT https://niftytipsniftylevels.blogspot.com/2023/06/stock-recommendation-for-trading-on-13.html

NAVINFLOURIDE UP BY 3.67%

DIXON UP BY 3.35%

MANNPURAM UP BY 2.44%

COLPAL UP BY 1.46%

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STOCK RECOMMENDATION FOR TRADING ON 13 JUNE 2023

 Below are Stocks which as per Our Research are likely to be Outperformers Tomorrow 13 June 2023 . To get specific CALL/PUT Recommendations contact us on 9039542248

FOR THE LIVE TRADING TIPS FILL THE FORM VISIT https://niftytipsniftylevels.blogspot.com/p/enter-mobile-number-for-2-days-trial.html

NAVINFLOURIDE

DIXON

HINDPETRO

IPCALAB

BPCL

DELTACORP

GUJGASLTD

NATIOANLUM

PVRINOX

MANAPPURAM

COLPAL

PERFECT STOCK RECOMENDATIONS👍🏻

 STOCK SUGGESTED BY US ON SATURDAY 10 JUNE ITSELF TO CHECK VISIT https://niftytipsniftylevels.blogspot.com/2023/06/stock-recommendation-for-trading-on-12.html

DELTACORP UP BY 2%

SRF DOWN BY 4.3%

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NIFTY OUTLOOK FOR 13 JUN 2023

Benchmark stock market indices ended higher on Monday amid a volatile trading session as investors hope for upbeat May retail inflation data to be released later today. The S&P BSE Sensex closed 99 points higher at 62724, while the NSE Nifty 50 closed 38 points higher at 18601. Broader markets outperformed benchmark indices, with mid-cap and small-cap stocks continuing their strong rally. After today's flat open, Nifty traded in a very small range of 74 points. Nifty has formed a doji candle on the daily chart, indicating indecisiveness in the markets. Also, we can observe an inside candlestick in the index where the cross of Friday's high/low will decide the big move of the index. For investors, the market is still buying into downturns with a strict SL of 18550 and when the Nifty closes below said level we can see some more pressure on the downside. The volume profile suggests that the index has strong support in the 18550-18500 area. Regarding the OI data, on the call side, the highest OI was observed at 18650 followed by a strike price of 18750, while on the put side, the highest OI is at a strike price of 18700. On the upside, Bank Nifty has support at 43600-43800 while resistance stands at 44400.

Bank Nifty Lot size reduced to 15 from 15 Jul Expiry!

The NSE stock exchange has reduced Bank Niftys lot size from 25 to 15 starting monthly expiry in July 2023. However, the exchange has kept other index derivative contracts in the market unchanged, namely the Nifty 50, Nifty Financial Services and Nifty Midcap Select, at 50, 45 and 75, respectively. i.e. contract expiring in July 2023, will remain unchanged for market lots revised. Contracts with terms in April 2023, May 2023 and June 2023 would continue to have the existing market lots. All subsequent contracts (i.e. monthly expirations in July 2023 and beyond) will have revised market lots. The lot size of all existing long-term options contracts of Nifty Bank (more than 3 months to maturity) will be changed from 25 to 15 after the contracts expire in June 2023 (i.e. 30 June 2023), according to the NSE. The day spread order The book is not available for the combination contract with the terms May 2023, July 2023 and June 2023, July 2023. NSE further said contracts with a weekly expiration date in August 2023 and beyond will have revised market lots.

How do traders benefit from the Bank Nifty futures and options expiration each week on Friday?

The expiry date for Bank Nifty futures and options on a weekly basis will now be Friday, instead of Thursday, effective July 7th. The move by the National Stock Exchanges (NSE) comes after its counterpart, the BSE, began optimizing the lot size and expiry date of options contracts, which had gained popularity due to low fees. For traders, the shift in Bank Nifty's weekly expiry is significant as investors now have the opportunity to bet on different themes across different expiry times on NSE.

From an investor-trader perspective, volume is one of the key considerations and NSE still has a much better market share position than BSE and will therefore most likely maintain its dominance. Second, volatility, particularly for NIFTY, is expected to drop by around 20% to 22% as Bank Nifty's components will be more active on Friday expiration than Thursday week expiration.

At the same time, the monthly expiration, which includes the bank's shares, is settled last Thursday. Therefore, there is a possibility that the monthly bank nifty decline will be more or less muted.

Compared to the index-only options OI, 70% of this is accounted for by Nifty and 26% by Bank, again suggesting that volatility on Nifty's weekly and monthly expiry is likely to fall. Additionally, the bank's NSE's reduction in lot size from 15 to 10 is expected to have a significant impact, as margin used on Thursday's Nifty options can be used on Friday's bank options expiry.

Bank Nifty is a thematic index while Nifty is a broad index. Although both differ in terms of volatility and price range, they are often traded in tandem, with each tracking the other, particularly during expiry swings. However, once expiration days change, it is possible for such linkage to break.

STOCK RECOMMENDATION FOR TRADING ON 12 JUNE 2023

Below are Stocks which as per Our Research are likely to be Outperformers Tomorrow 12 June 2023 . To get specific CALL/PUT Recommendations contact us on 9039542248

Atul Ltd

BALRAMPURCHINI

DELTACORP

SRD

EXIDEIND 

HAL

APOLLOTYRE

INDIACEM

SBIN

NIFTY VIEW FOR THE COMING WEEK 12 JUNE TO 16 JUNE 2023🔎

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WEEKLY RESISTANCE FOR NIFTY: 18600, 18700, 18800

PIVOT POINT: 18500

WEEKLY SUPPORT FOR NIFTY:  18400, 18300, 18200

WEEKLY CHART FOR NIFTY

Markets enjoyed a strong start to the week from June 5, 2023 on positive developments in US markets over the weekend. However, after the initial surge, there was limited movement and prices fluctuated in a 50-60 point range throughout the day. The general sentiment remained upbeat with the Nifty Index gaining 0.32% to re-hit the 18600 level. The market started Tuesday's session with little momentum leading to a flat open. However, weakness in the IT sector caused Nifty to decline in the first half. Still, other sectors showed strength and led to a notable recovery in the penultimate hour. As a result, Nifty pared its morning losses and finally closed just below the 18600 level. Following the positive momentum during the FAG period late Tuesday, Nifty started proceedings on Wednesday with a gap to the upside, above the recent congestion period . Although there were initial signs of potential intraday consolidation, positive momentum returned in the second half. As a result, Nifty ended the day up 0.68% and comfortably recaptured 18700. Indian equity markets got off to a flat start to Thursday's session, with the benchmark index gaining modestly for the first few hours on the back of the RBI policy announcement. Monetary policy decisions were in line with market expectations, leading traders to take profits following the announcement. As a result, prices not only erased morning gains, but also ended the session down 0.48%, just below the 18650 level. The domestic market faced continued selling pressure as investors eagerly awaited Monday's Domestic inflation data waited as the RBI refrained from aggressively lowering its inflation forecast. The market is hoping that CPI inflation will moderate further in May from its current level of 4.7%. In addition to domestic factors, global signals also failed to provide support as the US reported high unemployment ahead of the inflation reading and Fed meeting. The Indian benchmark indices closed lower for the second straight session on Friday, June 9, with the Nifty below 18600. At the close, the Sensex was down 223 points at 62625 and the Nifty was down 71 points at 18563.

NIFTY: STRONG SUPPORT& STRONG RESISTANCE LEVEL

Indications are pointing towards a further slide in the Nifty index however downside also seems capped citing support at 18,400 levels. We recommend focusing more on position management during the corrective phase and preferring sectors/stocks that are showing relatively higher strength.

 TECHNICALLY SPEAKING

Another uptrend rally is not possible in nifty until a break below 18700 and the market could rally above that to 18,800-18,900. Meanwhile, Bank Nifty is witnessing unidirectional activity and traders may be waiting for a breakout on either side. For the bulls, 44,000 would currently be the immediate resistance zone, while 43,800 could act as a key support level. Above 44k, Bank Nifty could rally to 44500, while below 43800 selling pressure is likely to intensify and could retest 43500-43300 levels.

PERFECT PREDICTION FOR THE STOCK!!!! 💪💪

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