You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 12 June 2018: -
On 11 June 2018: FII Net Sold – 1156.77 INR Crs: DII Net Bought – INR – 1062.82 Crs
I quoted levels of 10800 to 10850 in my yesterday’s article. It’s a zone
of resistance which is N- Line zone for reverse H&S pattern. It took a dot
high at 10850 and then gave up. This makes 10850 levels a very critical one. I can
say that it is a make or break levels. Big question is will it able to cross above
10850 levels. Reverse H&S pattern will be applicable above 10850 levels
only.
Once it stands above 10850 then we can expect near to all –time high. So
far this is a zone where bulls can be optimistic but be cautious at make or
break levels. Can it reverse from here betraying bulls? Well, that’s what
cautious is all about.
For today’s trading session, market is expected to open on near 10770
levels as shown by SGX Nifty. Once it makes above 10850 then only one can be
confident. Till that time it may invite dicey moves. Trading support will be at
10740 and then at 10710. Let us see what’s coming for the day.
Avoid this rise for any investment as market may be in a possible
situation of big time divergence.
Strategy for Nifty June future
– Nifty June future is expected to start at 10770+ levels. Afterward we can
expect a technical trading support at 10740 and then at 10710 levels. It hit
the way I was expecting 10850 yesterday but then it gave us almost everything. This
makes the day out from the bull’s grip. Let us see. If possible avoid trades on
dicey days.
BANK NIFTY June future – Bank
Nifty should have strength above 26400 but this is not delivering same kind of
strength. Well, as long as 26400 holds one can hope but I am little sceptical at
this point of time. So, I will avoid this index also. Suppose if it goes below
26400 then just assume that market is not making at tops. What’s goanna happen
if it truncate at top?
