You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 01 June 2018: -
On 31 May 2018: FII Net Sold – 15.31 INR Crs: DII Net Sold – INR – 266.02 Crs
All-time high for Nifty is at 11171. I am not very convinced with the
move yet but it’s a truth that if Nifty wants to make a new all-time high then
it has start closing above 10825-10850 levels in first few days of trade of
this month. Can it happen? It is interesting to see the coming days. If it does
not then a brutal fall must be in waiting. Sooner, market is going to take a
direction for traders.
Momentum indicators are still in favour of bulls and looking to
dominate. I need to say that market may try to adjust today with the rise of
expiry hours.
For today’s trading session, I am expecting a positive to flat start
which is itself going to be great thing after such a fall on DJIA. Technical support
is immediate now at 10710-10680. As long as it is maintaining levels above
10710 we can expect a technical move towards 10780 and then 10825. Let us see
how will market close today.
Avoid this rise for any investment as market may be in a possible
situation of big time divergence.
Strategy for Nifty June future
– After a flat to positive start Nifty June future will take support at 10700
levels. If I have to pick a trade then I will prefer to trade on long side from
lower levels with possible stop loss at 10680 levels as Nifty future may try to
move towards 10825 levels sooner. This rise may extend till early next week.
BANK NIFTY June future – Bank
Nifty will prefer to knock for 27000 marks right now. Active traders can look
for an opportunity to trade long side. Still, it is strongly suggested to add
long in intraday dip only. Stop loss can be near to 26500 levels so one needs
to wait for good dip. It looks like market will advance after a dip and also it
may try to trap bears.
