Market outlook for 19th JUNE 2017

Market are continue in profit booking before the expiry week and market closed near to yesterday closing indicating  Dozi candle.   Over all derivative data suggests that some more consolidation is likely to continue in the index.

Nifty  :   Now we may consider decent support 9550-9525 and resistance 9630 crossover sharp move towards 9580 possible.

Bank Nifty  :   Again support hold and finally closed near to 23500,  on Monday crossover and stay above 23550   looks   promising likely.

PSU Bank INDEX  :   Consider support 3450-3500 range and still holding.  Closed below 3400   panic situation can not be  ruled out.

PHARMA INDEX   :        Some profit booking seen in pharma stocks and consider support nearly 9350.

SOME IMPORTANT POINTS TO BE WATCH OUT 

Long side  :     

FED BANK  EQUITUS  INDA  CEMENT

Long exit :

IBEAL   VOLTAS HDFC BANK

Short covering :

UJJAIVAN,   KOTAK BANK AND AXIS BANK

Short build up :

LUPIN,  ICICI BANK, ESCORTS AND GODREJ CP.

OPEN INTEREST SPURT  : NO. OF CONTRACTS

BEML                           384

BANK NIFTY               44000

FED BANK                   660

LUPIN                          3061

DLF                             -2095

RELIANCE                   -1531

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