Markets trade range bound with weak bias | Market

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.

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.

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