NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 19 JUN 2019

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It was tough day for bulls. Bulls could not continue the good start as nifty dropped till the level of 11641 but at the end bulls again came in to the picture and managed to settle above 11675 mark. Nifty has started the day at 11677 made a high of 11727 and low of 11641 & finally closed the day at 11691. 

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Bulls are on back foot, Bears continued to rule…  Nifty has started the week on negative note due to heavy selling in bank, auto and metals stocks amid weak global cues and concerns over poor progress in monsoon. Investors also worried over liquidity in the system and cautiousness ahead of the Union Budget. The sensex fell for a fourth straight day, ending 491 points lower at 38961.Nifty settled at 11672, down 151 points.

NIFTY WEEKLY OUTLOOK & MAY EXPIRY TRADING TIPS 17 JUN TO 21 JUN 19

WEEKLY RESISTANCE FOR NIFTY: 11900, 12000, 12100

 PIVOT POINT: 11800

WEEKLY SUPPORT FOR NIFTY:  11700, 11600, 11500

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 11875,11975,12050

PIVOT POINT:11825

DAILY SUPPORT FOR NIFTY :  11775,11750,11700

DAILY CHART FOR NIFTY

The indices on Friday clocked worst week in over a month amid global cues and key inflation data. Sensex closed at 39452 falling 289 points, while Nifty dropped by 90 points, at 11823. The Nifty hinted at a gap up opening on Monday and in line with the expectations, the index started the week on a positive note. Nifty rallied higher in the first half hour of the trade but it then corrected gradually to wipe out the morning gains. The index eventually witnessed some pullback in the last hour and ended the day with gains of about half a percent. On Tuesday Nifty opened on a positive note and corrected marginally from the opening ticks in the first hour of the trade. However, the index rallied higher from the 11900 mark to test the 12000 level during the day. It eventually ended the day near the opening levels. On Wednesday post opening on a flat note, the Nifty corrected in the initial couple of hours to breach the 11900 mark. However, the index oscillated around this level throughout the day and ended the session tad above it with a loss of half a percent. On Thursday Nifty hinted at marginal negative opening yesterday and in line with expectations, the index started the day on a weak note. Nifty continued the negative momentum till noon; but it reversed and rallied higher for rest of the day to wipe out the intraday losses and end on a flat note.

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 14 JUN 2019

The Sensex& nifty ended rangebound session flat with a negative bias on Thursday as losses in Yes Bank, IndusInd Bank, Infosys, Reliance Industries and Tata Consultancy Services were offset by gains in HDFC Bank, Kotak Mahindra Bank, HDFC and Axis Bank. Earlier in the day, Nifty opened lower and extended declines owing to weakness in financial, IT and metal sector shares, a day after official data showed consumer inflation rose to its highest level recorded in seven months. The Sensex fell as much as 295 points while the Nifty dropped below 11850. The Sensex ended 15 points lower at 39741 and the Nifty rose 8 points to close at 11914. 

NIFTY OUTLOOK & NIFTY OPTION TIPS FOR 13 JUN 2019

A range bound trading session gas ended on negative note. Markets ended Wednesday’s choppy session with losses after registering gains for three consecutive days amid selling in banking and financial services counters. Investor sentiment also took a hit on weak global cues. The Sensex closed at 39757. The Nifty settled at 11906, down 59 points. The Sensex touched an intra-day low of 39623 levels while the Nifty drifted to 11866 levels during the day before staging a partial recovery.

NIFTY OUTLOOK & NIFTY OPTION TIPS FOR 12 JUN 2019

Bulls are back on the driver seat & took nifty to 12000 mark. . However, it failed to hold at higher levels and closed at 11965 near the opening mark 11959 by forming a Doji candle on the daily scale.  The index has been forming multiple Dojis since last three sessions, but at the same time making higher highs and lows, which suggest every decline is being bought into, while resistances are intact at the upper band of the trading zone. 

NIFTY OUTLOOK & NIFTY OPTION TIPS FOR 11 JUN 2019

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Nifty ended Monday’s session above 11900 mark lifted by tech stocks, in line with global stock markets that were buoyed by a deal struck between the US and Mexico to avoid a tariff war, and weak US jobs data that raised hopes of rate cuts by the Federal Reserve. Nifty, which opened at 11934, rose to an intraday high of 11975 before slipping below 11900. It hit an intraday low of 11871 before closing at 11922, up 52 points from its previous close of 11870 on June 7.

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Rate cut change the market direction. Market posted their biggest one-day loss in 2019, dragged down by financials and bank stocks even though the monetary policy committee of the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points (bps) to 5.75 % in the second bi-monthly monetary policy meet of the financial year 2019-20 (FY20).  As the 25-bp cut was in line with expectations and had already been factored in, Street didn’t cheer the move and continued to slide down with higher momentum.  This is the third consecutive time that RBI has cut rates by 25bps which shows that they are indeed taking care of the slowing growth and as expected are being supportive by loosening their purse. The Sensex slipped 554 points, to 39530, with IndusInd Bank, Tata Steel, YES Bank, Larsen & Toubro, and State Bank of India was among the top losers. The Nifty tumbled 178 points to 11844.