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    • MARKET OUTLOOK FOR 21TH JUNE 2021

    MARKET OUTLOOK FOR 21TH JUNE 2021

    • Posted by admin
    • Categories Market Insights
    • Date June 18, 2021
    • Comments 0 comment

    TODAY’S MARKET SNAPSHOT:

     NIFTYBANKNIFTY
    OPEN15756.5034735.15
    HIGH15761.5034787.40
    LOW15450.9033908.95
    CLOSE15683.3534558
    PREVIOUS CLOSE15691.4034605.40
    SUPPORT1559033880
    RESISTANCE1580035000
    VIEWNEGATIVENEGATIVE

    Today nifty as well as bank nifty opened higher and then witnessed weakness for majority of the trading session. However, during last one hour of trading, heavy buying by FIIs & DIIs pared almost all losses by virtue of which nifty as well as bank nifty closed flat in today’s trading session. Nifty closed below 15700 for the second consecutive session. Bank nifty on the other hand closed well below the important resistance level of 34650. Heavy selling was witnessed in PSE, energy, PSU banks, commodities and metals while FMCG attracted marginal buying interest.

    The weakness is likely to continue in the next trading session on both nifty as well as bank nifty. If nifty spot fails to hold today’s swing low of 15450.90 in next 1-2 trading sessions, then short nifty futures for a possible target of 15200 in next few trading sessions. On the other hand, bank nifty spot must respect today’s swing low of 33908.95 in next 1-2 trading sessions, otherwise decks will be cleared for a target of 33300 in next few trading sessions. Traders should Avoid long positions on both nifty as well as bank nifty. Sell on Rise should be strategy for next few sessions or till nifty doesn’t close above 15800 & bank nifty 35000.

    Today the advance-decline ratio was favoring bears in the ratio of 1:3.

    FII & DII TRADING ACTIVITY (IN Rs CRORES)

     FIIDII
    CM+2680.57+446.20
    IDXFUT-101.42 
    IDXOPT-425.49 
    STKFUT-221.27 
    STKOPT+386.17 

    TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)

    GAINERS/LOSERSMOST ACTIVE

    SYMBOLLTP%CHNGVOLUME
    SYMBOLLTP%CHNGVOLUME
    ADANIPORTS693.157.157,62,66,975
    BAJAJ-AUTO4,177.103.047,01,993
    HINDUNILVR2,490.253.0039,37,751
    BHARTIARTL540.552.251,47,23,907
    GRASIM1,487.051.9814,85,497
    ONGC120.75-3.488,79,12,730
    COALINDIA147.00-3.382,48,23,176
    JSWSTEEL673.40-3.301,35,05,600
    NTPC113.70-3.154,39,27,941
    UPL810.65-2.9281,45,772

    ANALYSIS OF TODAY’S DERIVATIVE DATA for 24th June Expiry

    1. NIFTY
    CALL OPTIONPUT OPTION
    IOCHANGE IN IOSTRIKE PRICECHANGE IN IOIO
    22,0956,2721560012,12538,087
    8,9414,756156503,1829,709
    48,9589,121157003,09032,687
    17,5396,537157507745,219
    52,3993,97415800-1,95717,456

    As is evident from the option chain data, strong resistance for nifty exists at 15700followed by 15800 levels while as strong support exists at 15650 followed by 15600 level. Heavy call writing was seen at 15700 followed by 15800 and 16000 while as put writing was seen at 15500 and 15600 levels. There has been no major addition of contracts on both call and put side and hence one can assume that today’s derivative data is mixed, however the bears have an edge over the bulls at this point of time.

    2.Bank Nifty

    CALL OPTION PUT OPTION
    OICHANGE IN OISTRIKE PRICECHANGE IN OIOI 
    30,68813,684345005,90930,435 
    12,1596,584346002,0538,338 
    16,7196,049347001,6705,908 
    16,1236,459348008365,440 
    9,1512,12034900-1491,838 
    48,9636,257350001,71815,527 

    As is evident from option chain data, 35000 is a strong resistance&34500is a make or break zone. Call writing seen at 35000 while as put writing visible at 34500. No major change in open interest and as such derivative data on bank nifty is mixed, however favoring bulls at this juncture of time.

    MAXIMUM PAIN OPTIONS FOR 24TH JUNE EXPIRY

    NIFTY16000
    BANK NIFTY35000

    Sectors to watch out for tomorrow

    1. Nifty BANK (UP)
    2. Nifty IT (UP)
    3. Nifty FMCG (UP)

    Stocks to watch out for tomorrow:

    1. JK BANK (BUY)
    2. RENUKA SUGAR (BUY)

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

    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.

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