TODAY’S MARKET SNAPSHOT:
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The Indian market ended with moderate losses amid volatility on June 28. The niftyfell nearly 46 points while the bank Nifty closed below 35400 on the second consecutive trading session of the July expiry.
The Sensex closed 189 points lower at 52925, while the Nifty50 shaved off46 points to end at 15814.
On the sectoral front, buying was seen in PSU banks, metals, and pharma, while selling pressure was visible in media, energy and IT space.
On the broader market front, the nifty midcap 100 index was up 0.53 percent and the nifty small cap 100 index was up 0.37 percent, outperforming the benchmark indices.
The advance decline ration stood in the ratio of 1:1
Nifty has now entered into a consolidation zone. Nifty has to close above 15900 for any fresh up move. On downside if nifty breaks 15770, then fresh selling will be witnessed. The consolidation is expected to continue tomorrow and investors are advised to keep an eye on the suggested levels for any up move/ down move.
Bank nifty was up during the majority of the trading session on June 28 but erased gains on last one hour of trade amid high volatility and on account of FM speech. Bank nifty has to cross 35600 for any fresh up move. On the downside, if bank nifty fails to hold 35000, then decks will be cleared for a fresh correction which may push bank nifty below 34000 during this series. Trade wisely as consolidation will be over in a day or two.
FII & DII Data
Foreign institutional investors (FIIs) net sold shares worth Rs 1658.72 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1277.08 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)
ANALYSIS OF TODAY’S DERIVATIVE DATA for 1st July Expiry
As per today’s option chain data, strong resistance for nifty exists at 16000 level which has added 40887 contracts while as strong support exists at 15800 level which has added15582contracts. The highest call writing was done at 16000 level followed by 15900 and 16500 level while as no significant put writing was visible in today’s trade except 15800.
- Bank Nifty
As per today’s option chain data, Strong resistance for bank nifty exists at 35500 level which has added 34378 contracts while as strong support exists at 35000 level which has added 12314 contracts. No significant writing visible on both call and put options.
Overall derivative data is negative for both nifty and bank nifty.
MAXIMUM PAIN OPTIONS FOR 1ST JULY EXPIRY
Sectors to watch out for tomorrow
- Nifty BANK
- Nifty Pharma
- Nifty Metal
Stocks to watch out for tomorrow:
- Cadila Health
- Bank Of Baroda
For exact entry and exit levels, you can mail me at firstname.lastname@example.org