You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 15 June 2017: -
On 14 June 2017: FII Net Sold – 161.13 INR Crs: DII Net Bought – INR – 71.65 Crs
Well, today is 15th June and we have passed half June month
with no great move on upside. June is usually a month of heavy volatility and
negative biasing. So far, we have not seen anything great. It was just a little
up. Big question is what can we expect from rest half of the month.
Will it be dead? Will it be negatively volatile? Will it be positively
volatile? To be honest, we cannot predict with good accuracy as indicators are
not moving much. If it have to rate the biasing then it is unfortunately on
negative side.
I should rather say that it is on critical side. If RSI breaks the
support of 50% marks then bears will see some activity. From 9000 to 9700 was a
good run and if some correction comes then it should be welcome. It is not
going to change the direction but it may be the time of “meantime price
correction” to the limited extent.
For today’s session, I am expecting market to open on negative side. I
have no trade on index and I may opt to wait for long. Well, I may rather opt
shorting too but my expectation on negative side is not too much. One can
expect 100 to 150 point of down side maximum if it has come.
I can say that first sign came from sectoral performance. Under performance
goes critical and hence I believe that some money may be pulled from bluechip
index too. Before you think that I am bearish then let me update – I am firm on
my target of 10000 on Nifty. This will just be the meantime price correction
which is a usual and healthy phenomenon.
Strategy for Nifty June future
– Yesterday’s dead session was indication of this kind of weakness for opening
quote. If you are a bull then stay away from market for next 15 days. The next
15 days may not be in favour of bulls as of now. So far, it looks for the down
side towards 9500-9440 levels. Let us see how much correction comes.
BANK NIFTY June future – Somehow
I cannot say that bank Nifty is weak as of now. So if market does not fall then
Bank Nifty may impress bulls. It is not reacting much at 23500 levels. It has
good technical support at 23200. Will it respect this support? This support is
1% away from current levels. Well, do not touch this index unnecessarily.
