Todays Market Summary
|OPEN = 15791.40||OPEN = 34936.55|
|HIGH = 15832.05||HIGH = 34995.15|
|LOW = 15606.50||LOW = 34374.35|
|CLOSE = 15811.85||CLOSE = 34950.60|
|PREVIOUS CLOSE = 15799.35||PREVIOUS CLOSE = 35047.40|
|SUPPORT = 15600||SUPPORT = 34300|
|RESISTANCE = 15830||RESISTANCE = 35100|
FII & DII Trading activity
FII ( In Rs Cr.) DII (In Rs Cr.)
CM = -503.51 CM = +544.26
INDEX FUT = -2637.55
INDEX OPT =+4139.06
STOCK OPT = +778.06
STOCK FUT = -18.32
Today’s market opened flat on both nifty as well as bank nifty. The profit booking kicked in both the indices today in the very first hour of trade.Despite the crack in the very first hour of trade,both indices managed to claw back the looses & closed well above the lows of the day.
Adani group stocks lost 5-9% on report pertaining to the freezing of thee foreign funds by NSDL that own shares in four listed Adani Groups in its statement clarified that the demat account in which the foreign funds hold the shares of the company are not frozen.
Top Gainers and Losers Today
|Tata motors||Adani Ports|
|Bajaj Finance||Maruti Suzuki|
Tomarrow the market is expected to trade weak on account of higher retail inflation which came at 6.30% as compared to Aprils CPI of 4.23%. This is the higher inflation figure in last 6 months. The higher inflation is mainly attributed to hardening of food prices. Food inflation came at 5.01% in may as compared to 1.96% in April.
The investors are advised to sell every rise & if Nifty respecte 15600 tomorrow closes below it, then aggressively short Nifty futures. The bank Nifty is expected to continue the 34000 & if it fails to do so in next 1-2 trading sessions, then possible target could be 33800-33600 in next few sessions.
Maximum Pain Options for the 17th june expiry
Nifty = 16000 Bank Nifty = 35500
Sectors & Stocks to watch out for tomorrow :
|Nifty Bank||Kotak bank|
|Nifty Pharma||Tornt Pharma|
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Market view given by:
Mohammad Shahid Drabu
Masters in Finance and control From KU
(Certified AMFI Series VA)