MARKET OUTLOOK FOR 28TH JUNE 2021

TODAY’S MARKET SNAPSHOT:

	NIFTY	BANKNIFTY
OPEN	15839.35	34916.65
HIGH	15870.80	35491.95
LOW	15772.30	34915.85
CLOSE	15860.35	35364.65
PREVIOUS CLOSE	15790.45	34827
SUPPORT	15740	34900
RESISTANCE	15910	35540
VIEW	BUY ON DIPS	BUY ON DIPS

The Indian market ended with handsome gains for the second straight session amid volatility on June 25. The nifty rallied nearly 70 points while the bank Nifty closed below 15,400 on the first trading session of the July expiry.

The Sensex closed 226 points higher at 52925, while the Nifty50 gained 70 points to end at 15,860.

On the sectoral front, buying was seen in PSU banks, metals, and financial services, while selling pressure was visible in energyand FMCG space.

On the broader market front, the nifty midcap 100 index was up1.10 percent and the nifty small cap 100 index was up 0.54 percent, outperforming the benchmark indices.

The advance decline ration stood in the ratio of 1:1

Nifty is expected to continue its upward journey in the next trading session as it has closed near the day’s high, well above 15850. If nifty crosses 15910 in first 15 minutes of trade, go long on nifty futures for at target of 16200 in next few trading sessions. The reversal level for nifty stands below 15770 as double bottom formation was witnessed there.

Bank nifty made a big bullish candle in today’s trade which has negated all the weakness. The bank nifty is expected to cross 35500 in next trading session as heavy long positions have been created by the market participants in today’s trading session. The possible target for bank nifty will be 36200 in next few trading sessions. The reversal level stands below 34900.

FII & DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 678.84 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1832.76 crore in the Indian Equity Market on June 25 as per provisional data available on the NSE.

TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)

SYMBOL	LTP	%CHNG	VOLUME
TATASTEEL	1,165.50	4.70	1,80,22,770
AXISBANK	761.35	3.00	1,11,70,037
SBIN	428.80	2.78	2,98,86,797
ICICIBANK	649.00	2.36	1,47,85,922
HINDALCO	375.90	1.86	1,28,15,999
RELIANCE	2,104.45	-2.28	2,55,46,334
HINDUNILVR	2,448.65	-1.67	11,12,942
NTPC	116.05	-1.65	1,27,68,348
TITAN	1,755.00	-1.45	13,78,327
UPL	803.55	-1.22	25,66,357

ANALYSIS OF TODAY’S DERIVATIVE DATA for 1^st July Expiry

1. NIFTY

As per today’s option chain data, strong resistance for nifty exists at 16000 level which has added 15353 contracts while as strong support exists at 15800 level which has shed 4651 contracts.The highest call writing was done at 16000 level followed by 16400 and 16500 level while as highest put writing was done at 15800 followed by 15700 and 15650 levels.

• Bank Nifty

As per today’s option chain data, Strong resistance for bank nifty exists at 36000 level which has added 23648 contracts while as strong support exists at 35000 level which has added 32606 contracts.The highest call writing was done at 36000 level followed by 36500 and 36500 level while as highest put writing was done at 35000 level. No significant put writing seen at other strike prices on bank nifty.

MAXIMUM PAIN OPTIONS FOR 1^ST JULY EXPIRY

NIFTY	16000
BANK NIFTY	36000

Sectors to watch out for tomorrow

1. Nifty BANK
2. Nifty Financial Serivices
3. Nifty FMCG

Stocks to watch out for tomorrow:

1. Ashok leyland
2. JSW Steel
3. SBI

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