Markets trade range bound with weak bias 0 504

Pre Market Updates Monday June 17, 2019
Nifty levels

Strategies for Future contracts – Expiry date – 27/06/2019:

  • Bank Nifty under-performing Nifty now a days. We can expect some short cover rally in Axis and IndusInd in the second half of this week.
  • YesBank way to test 100 marks.
  • After Cholafin stocks split this counter facing profit booking. It is likely to trade in negative bias. Chances there to test 220 in near term.
  • Fresh short position witnessed in TORNTPHARM. It likely to test 1200
  • Escorts trading near its very good support. Can go long with stop loss 540 closing basis. Prices may hit 640 if any recovery in Nifty.
  • In NIIT Tech, 80 to 120 may be the range for near term.
  • TATAELXSI trading in accumulation phase in the long term point of view.
  • CHENNPETRO trading near long term support. Can go long with strict stop 200 in closing basis. It can do 280 in near term.
  • Avoid PCJeweller DHFL. Both for aggressive traders.

RollnReel top points

  • Markets may trade in range bound
  • This week, Nifty likely to consolidate between 12000 and 11600.
  • Today trend of Nifty is range bound with weak bias and the crucial lower supports to be around at 11,700.
  • Nifty likely to face resistance at 12040 and support at 11870.

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Price actions indicating bullishness 0 684

Pre Market Updates Tuesday June 11, 2019
Nifty levels

RollnReel top points

  • Nifty price actions indicating bullishness in the chart.
  • Whatever may be a sentiments, 12000 point may act as a resistance and support for comings weeks
  • As it is big psychological point, price may retest again and again in coming months.
  • Nifty likely to face resistance at 12040 and support at 11880

Strategies for Future contracts – Expiry date – 27/06/2019:

  • Bank Nifty and Nifty likely to trade with huge volatility. Both contracts in buy on dips and sell on rise mode.
  • Yes bank Chart suggests, it facing week resistance near 155. Sell on rise would be better strategies.
  • Relinfra and Relcapital are completely in bear control.
  • Bataindia price action suggests, can buy on dips.
  • ICICIPRULI trading near week resistance. Facing sell pressure around 390 mark.
  • Rpower and Suzlon not suitable for conservative traders.
  • UBL trading near strong support which comes around 1300. Yesterday was a short cover rally.
  • Justdial trading in neutral zone.

Disclaimer: The views expressed by investment expert on rollnreel.com are his own and data available from nseindia.com. Rollnreel.com advises users to check with certified experts before taking any investment decisions.

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