MARKET PREDICTION FOR 16TH JUNE 2021

TODAY’S MARKET SNAPSHOT:

	NIFTY	BANKNIFTY
OPEN	15866.95	35038.05
HIGH	15901.60	35317.40
LOW	15842.40	34917.90
CLOSE	15869.25	35247.75
PREVIOUS CLOSE	15811.85	34950.60
SUPPORT	15740	34650
RESISTANCE	15920	35500
VIEW	SELL ON RISE	SELL ON RISE

FII & DII TRADING ACTIVITY (IN Rs CRORES)

	FII	DII
CM	+633.69	-649.29
IDXFUT	-11.37
IDXOPT	-594.79
STKFUT	+752.64
STKOPT	-51.03

TODAY’S GAINERS AND LOSERS

TODAY’S GAINERS AND LOSERS

SYMBOL	LTP	%CHNG	VOLUME
ASIANPAINT	3,035.00	2.88	22,62,031
HDFCLIFE	693.85	1.78	26,13,877
AXISBANK	748.50	1.66	96,86,490
ICICIBANK	644.40	1.46	1,10,39,987
HINDUNILVR	2,393.90	1.24	12,15,463
SYMBOL	LTP	%CHNG	VOLUME
DIVISLAB	4,319.00	-1.57	7,98,680
ADANIPORTS	756.50	-1.56	4,54,08,426
COALINDIA	157.10	-1.41	3,01,53,988
TATAMOTORS	352.00	-1.11	3,55,26,159
BAJAJFINSV	11,800.00	-1.06	3,14,841

Today nifty as well as bank nifty opened higher and continued upward movement throughout the trading session. Nifty formed a “DOJI Pattern” today, so investors are advised to remain cautious in next 1-2 trading sessions. On bank nifty, investors have created long positions in today’s trading session. 

Tomorrow the nifty is expected to open flat. If nifty crosses 15900 in first hour of trade and remains above it for 15 minutes, initiate long positions for a target of 16050 with a strict stoploss at 15870. On the contrary, if nifty fails to hold 15800 in first one hour of trade, initiate short positions for a target of 15700, keeping a strict stoploss at 15830. On bank nifty, go long if it holds 35500 and remains above it for 15 minutes for a target of 36300 keeping a strict stoploss at 35300. Similarly, initiate short positions on bank nifty below 35000 for a target of 34200 keeping a strict stoploss at 35150.

ANALYSIS OF TODAY’S DERIVATIVE DATA

1. NIFTY

CALL OPTION	STRIKE PRICE	PUT OPTION
OI	CHANGE IN OI	OI	CHANGE IN OI
29780	-10727	15800	48988	18786
13724	-1913	15850	14376	9841
45185	11029	15900	18879	14431
21189	2527	15950	2118	1174
54924	11592	16000	8578	1389

As is evident from the option chain data, strong resistance for nifty exists at 16000 level while as strong support exists at 15800 level.

• Bank Nifty

CALL OPTION	STRIKE PRICE	PUT OPTION
OI	CHANGE IN OI		OI	CHANGE IN OI
37471	-23824	35000	50314	12894
12862	-5859	35100	20248	15105
29061	9371	35200	25532	22258
36966	16255	35300	14918	11891
19432	4686	35400	7034	5499
59602	3290	35500	11187	4442

As is evident from option chain data, 35000 is a strong support & 35500 strong resistance.

MAXIMUM PAIN OPTIONS FOR 17^TH JUNE EXPIRY

NIFTY	16000
BANK NIFTY	35500

Sectors to watch out for tomorrow

1. Nifty Auto (DOWN)
2. Nifty IT (UP)
3. Nifty FMCG (UP)

Stocks to watch out for tomorrow:

1. Tata Motors (Sell)
2. LTI (BUY)
3. GODREJCP (BUY)

DISCLAIMER:

The market view and investment tips expressed on website are in no way a guarantee either express or implied.

Trading is inherently risky and you agree to assume complete and full responsibility for the outcomes of all trading decisions that you make, including but not limited to loss of capital. None of the trading calls given by EDUCASHEER should be construed as an offer to buy or sell any financial instruments, nor advice to do so. All comments and posts made by EDUCASHEER are for information purposes only and under no circumstances should be used for actual trading. Under no circumstances should any person make trading decisions based solely on the information discussed herein. It is informational in nature.

For exact entry and exit levels, you can mail me at investor0007@hotmail.com