Monday, May 31, 2021

Stock Market Tomorrow | Nifty 01 June 21 Outlook


Stock Market 

Indian equity benchmarks continued their uptrend on Monday with the Nifty hitting a fresh record high, due to strength in index heavyweights such as Reliance Industries, ICICI Bank and Bharti Airtel ahead of the gross domestic product (GDP) data for the fourth quarter. A steady decline in daily COVID-19 caseload also strengthened investor sentiment. The Health Ministry said India reported the lowest daily new coronavirus infections in 50 days with 1,52,734 cases.

 BSE Sensex rose 514.56 points or 1.00% to 51,937.44, while the CNX Nifty was up by 147.15 points or 0.95% to 15,582.80.

DIXON | Stock Analysis And Price Outlook

Nifty Outlook

Key  Data

Futures of NIFTY

Closing Price15583.20
Price Change119.35
Change %0.772
Future OI10552.73 K
OI Change %2.39
Future Contracts93.54 K
Contracts Change9.03

Put / Call Options

Call Max Traded Strike Price16000.00
Call Max Traded SP Contracts50522
Call Option Open Interest17822.70 K
Call Option OI Chg %2.11
Put Max Traded Strike Price15000.00
Put Max Traded SP Contracts40152
Put Option Open Interest28180.80 K
Put Option OI Chg %7.12

Put Call Ratio - 24/06/2021

Put Open Interest28180.80 K
Call Open Interest17822.70 K
PCR Open Interest1.58
PCR OI ReadingStrong Bearish
Put Contracts Traded342439.00
Call Contracts Traded285566.00
PCR Volume1.20
PCR Vol ReadingStrong Bearish

Level Outlook

Friends as we discussed in yesterday market outlook  that Nifty is in strong uptrend and every dip should be utilized as a buying opportunity . Nifty also behaved on our expectation and created All Time High. Those who have followed our yesterday strategy have definitely earned today a good profit.

Still trend is strong and we should away from shorting the Nifty until we see a trend reversal.
As long as trend is sustaining we should remain with trend and every dip or normal routine correction should be utilized for buying opportunity.
For tomorrow we should remain with trend and in any dip we should prepared for long Nifty. Highest open interest is created for the 16000 level in upside and highest open interest created for the put for the level of 15000 . Which means Nifty will trade in between 15000-16000 level in upcoming with bullish nature.
Nifty can test 15683 - 15834 in this week and in downside now 15136- 15251 will act important support.

Thanks for your Precious Time.

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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

1 comment:

  1. Hi, Will there be no negative sentiments on marlet due to GDP data and high margin requirements?