You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 20 June 2018: -
On 19 June 2018: FII Net Sold – 1324.92 INR Crs: DII Net Bought – INR – 653.68 Crs
Nifty is relatively better than what US indices has done in past 24
hours. I have already updated yesterday on twitter that I am sensing a bear
trap formation. It looks like I am right although I am not claiming with great
conviction. SGX Nifty is showing almost a dead start when DJIA future is
trading with a loss of 300 points.
Hence, I have reasons to expect improvement. At least I do not prefer to
be bearish for the day. Rise against Reverse H&S pattern with come in to
effect only above 10850. It has missed in first attempt. One high was at 10929
and another at 10893. It is interesting to see the next. Will it make or will it
break? If it goes in favour of bears then it will definitely be a brutal one.
For today’s trading session, market is expected to open flat. Afterward
I am expecting support at 10710 to 10680 levels. I hope it will not break lower
and hence it may be opportunity to trade long with caution. My concern is that
what if DJIA cracks further. Hope it does not.
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 flat. Well, it is fine so far. I am
expecting trading support at 10700 and then at 10670. I may prefer to trade
long if it can see calculative risk and a possibility of desired bounce which I
am hoping. If it breaks below 10670, then recovery may not come sooner and
market will go under deep panic mode.
BANK NIFTY June future – I have
already discussed the importance of the support of 26200. It has demonstrated those.
If it makes at 26200 then it may see a recovery of around a percentage. If it
does not then next two supports are 26000 and 25800. I do not prefer to trade
this index due to higher risk.
