RELIANCE STRANGLE STRATEGY FOR JUN 2018

RELIANCE STRANGLE STRATEGY FOR JUN 2018 

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NIFTY OUTLOOK & FREE NIFTY TIPS FOR 12 JUN 2018

RELIANCE STRANGLE STRATEGY FOR JUN 2018 

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It wasn’t quite a Monday for the bulls, as volatility gripped the market! Sensex slipped 221 points from the day’s high to end at 35,483, up just 40 points. Nifty settled 19.30 points higher at 10,786. Market traded positively during most part of the day supported by favorable global cues. However, a consensus estimate of higher CPI inflation for May at 4.8 per cent and a caution ahead of FOMC meeting during the week influenced profit booking. On the other hand, progress in monsoon and positive outlook on rural economy will give some respite to equity in the near term.

NIFTY WEEKLY PREDICTION & CHART FOR 11 JUNE TO 15 JUNE 18

WEEKLY RESISTANCE FOR NIFTY: 10850,10875,10900

 PIVOT POINT: 10650

WEEKLY SUPPORT FOR NIFTY :  10600,10525,10475

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10775,10800,10825

PIVOT POINT:10700

DAILY SUPPORT FOR NIFTY :  10725,10700,10675

DAILY CHART FOR NIFTY

Tug of war between bulls and bears from day one. Bears were heavy on 1st two days i.e. Monday & Tuesday but finally bulls snatched the rope in their hand and managed to touch level 10814 but bears did not diminished from the race and again showed some strength to pull back nifty till the level 10725 on Friday. After a 2-day spell since Reserve Bank of India's (RBI) rate hike which saw the Sensex rise more than 500 points, equity markets on Friday opened in the red as investors opted for profit booking ahead of the weekend. This week nifty future has started at 10732 made a high of 10814 and low of 10552 and finally closed at 10738 down by 76 points.
As predicted by us in our previous weekly report nifty has successfully passed the critical zone 10750 & made a high 10814 & closed at 10748.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 8 JUN 2018

Bulls run continued on Thursday’s trade & took the nifty above the resistance level 10800 & finally closed at 10765. Nifty future has started the day at 10725 and made a high of 10814 total 89 points nifty future has moved in intraday while the Sensex gained a little over 400 points. Bank Nifty too rose 150 points to 26517 level. A day after the Reserve Bank hiked rates, the markets continued to rally on the relief that an important event was now in the rear view mirror. In the policy, RBI allowed banks to spread Mark to Market losses in investments in available for sale & held for trading portfolio for June quarter equally over four quarters. This will give relief to the banks which suffered heavy MTM losses due to recent spike in bond yields. Also, RBI mentioned that credit off take is satisfactory. The rate hike will help improving banks NIMs for future credit off take. This has led to positive sentiment in market. The rate hike is a negative but markets are recovering due to short-covering, since people sold off their positions at higher levels prior to the RBI meet and are now covering their positions at lower prices.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 7 JUNE 2018

Bulls are back on the driver seat & took nifty to 10700 mark. The Sensex and Nifty gained nearly 1% today after the Reserve Bank of India’s monetary policy decision has decided to increase key interest rates by 25 basis points to 6.25%. All the six members of RBI’s monetary policy meeting have voted in favour of a rate hike, while maintaining a neutral stance. Meanwhile in global markets, stocks in Europe and Asia were mixed as tech-inspired rally in global stocks is waning. The Sensex closed higher by 275 points, to 35178, while the Nifty rose 91 points to close at 10684.

NIFTY OUTLOOK FOR RBI POLICY 6 JUNE 2018

KEEP AN EYE ON RELINFRA ON 06 JUNE

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Nifty came down & closed below 10600 mark; eying RBI meet due tomorrow..!!! The market has ended a highly volatile day on negative note as investors chose to remain on the sidelines ahead of the outcome of RBI’s monetary policy meet. The Monetary Policy Committee (MPC) of the Resave Bank of India began its three-day meeting on Monday amid high speculation that it may hike key interest rates for the first time in over four years, keeping firming inflation in view. The Sensex came down 108 points at 34903 and the Nifty future came down below 10600 mark to close at 10,596. The bank Nifty ended on flat note at 26257. An increasing number of economists expect the Reserve Bank of India (RBI) to raise interest rates on Wednesday, a Reuters poll found, but most still think the central bank will stay on hold and use this week’s meeting to prepare for an August hike. Among macro data released earlier today, activity in India’s service industry shrank in May for the first time in three months as new orders stagnated, but business optimism was the highest since 2015 on expectations that demand will turn around, a business survey showed.

NIFTY WEEKLY PREDICTION & CHART FOR 04 JUNE TO 08 JUNE 18

WEEKLY RESISTANCE FOR NIFTY: 10805,10844,10883,10988

PIVOT POINT: 10672

WEEKLY SUPPORT FOR NIFTY :  10694,10527,10461,10355

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 10720,10745,10807,10844

PIVOT POINT:10694

DAILY SUPPORT FOR NIFTY :  10645,10619,10582,10544

DAILY CHART FOR NIFTY

Sensex opened the week at 34856, made a high of 34967, low of 34344 and closed the week at 34924. Thus the Sensex closed the week with a gain of 76 points. At the same time, the Nifty opened the week at 10648, made a high of 10715 low of 10556 and closed the week at 10671. Thus the nifty closed the week with a gain of 63 points. Benchmark indices ended lower on Friday. Price correction on the first session of the new June series derivatives today took its toll. Markets started on a positive note after data showed that India’s January-March 2018 GDP growth soared to a seven-quarter high of 7.7 per cent, spurred by robust performance of manufacturing, construction and service sectors, helping it retain the tag of the fastest growing major economy.

BANKNIFTY PREDICTION & CHARTS FOR 04 JUNE TO 08 JUNE

WEEKLY RESISTANCE FOR BANKNIFTY: 27353, 27563, 27774, 28342

PIVOT POINT: 26637

WEEKLY SUPPORT FOR BANKNIFTY :  26216,25502,24931,24363

WEEKLY CHART FOR BANKNIFTY

DAILY RESISTANCE FOR BANKNIFTY: 26814, 26899, 26984,27251

PIVOT POINT: 26717

DAILY SUPPORT FOR BANKNIFTY : 26547, 26499, 26316,26183

DAILY CHART FOR BANKNIFTY

Stop-long positions at 26,500. Stop-short positions at 26,800.

Bank Nifty opened the week at 26334 made a high of 26776, low of 25987 and closed the week at 26645 . Thus it closed the week with a gain of 405 points. As the bank nifty is managing to trade above its 22 and 55&200 days moving averages with the RSI of 61, above  26800 one may expect the targets of 27000/27200/27450/27700 in the bank nifty if it manages to sustain above the immediate support level of 26500/26330/26000. And resistance level for bank nifty are 26800,27000 ,27500.