You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 14 June 2018: -
On 13 June 2018: FII Net Sold – 70.77 INR Crs: DII Net Bought – INR – 486.78 Crs
Nifty spot hit a high at 10893 and they profit taking hit. Well, as it
has given up its gain yesterday and forms a bearish candle, picture has changed
a little. US market took a dip on the fear of two more rate hike this year. Technical
charts may not be bearish immediately. Still, market is the best analyst.
We have an impulsive high at 10929 and I was expecting profit taking
near those levels. In spite of all possible negative factors, we have one positive
factor that reverse H&S pattern is still applicable on chart. Bank Nifty is
also above its crucial 26400 marks. I have no great reason to go on contra
deals. Some patterns of confusion used to come in this kind of expected
breakout.
For today’s trading session, market is expected to open on near 10825
levels as shown by SGX Nifty which may not be very great to expect much from
market. I still say a confused movement may be in favour of bulls as long as it
is saving 10800 levels. I may not prefer to trade for intraday today.
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 SGX future is trading near 10820 levels right now. Well, this may
not be start where I can say that we can go long but this is definitely on support
levels. Up trend is still intact and we cannot say that a flat day has changed picture
too much.
BANK NIFTY June future – I
am keeping analysis same for Bank Nifty. Bank Nifty should have strength above 26400 and
it saved 26400 yesterday. We got the expected up move. Now, for today’s session
this index will have a great hope. If market has to go on break out mode then
Bank Nifty has to perform a lot. Technical support still lies at 26400 levels.
On higher side 27000 marks will be challenging.
