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 28^TH   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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