Thursday, June 29, 2017

Market outlook for 29TH JUNE 2017

Market Turned Bearish – Nifty Below 9580
Fresh Long – Cautious approach
High Volatile likely
Market Out Look   : As  market open with some positive bias but in intraday due to profit booking  and long unwinding, closed with a negative bias with a loss of 20 points.  However, in some counter , short covering also seen.   As today  expiry of June series, so avoid any big trading and trade with cautious approach.
Nifty  :      Market turned bearish and finally break down major support zone 9470  break this level selling pressure will emerged towards 9450-9410,  higher level resistance 9540-9550 also watch out.
Bank Nifty  :     We are bearish below 23500 and any rise to  sell side.  Once break down 23000 with volume4 more selling pressure can not be ruled out.
PSU Bank INDEX  :        already broken support level 3500 and almost wipe out 250 points. No respite likely and remain sell side.
PHARMA INDEX   :         Still holding support level with consider 9300. 
OPEN INTEREST SPURT  : NO. OF CONTRACTCS

Bharti Tele                              +2648
BPCL                                       -1420
Coal India                                  905
DLF                                         -1495
Hindalco                                 -1010
ICICI Bank                                3184
LT                                               3401
Lupin                                                -2591
SBI                                          5347
Sun Pharma                            1980
Tata Motor                              1255
Tech Mahindra                       -1416
Yes Bank                                 - 114

FIIS ACTIVITY ON 28TH   JUNE 2017

Derivative Segment
Index Future                 - 901
Index Options                + 718
Stock Futures                 -795
Stock Options               + 90.63
Net FO Positions           + 702

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