Tuesday, June 1, 2021

Stock Market Tomorrow | Nifty 02June 21 Outlook


Stock Market 

After 4-day winning run, stock market bulls took a breather on Tuesday with benchmark indices ending flat, erasing all of the morning gains. Key indices staged a gap up opening, as better-than-expected GDP numbers supported the market sentiments. Amid the coronavirus pandemic, India's GDP grew at 1.6% in the January-March quarter of the fiscal year 2020-21, higher than the street forecast, but witnessed a contraction of 7.3% for the entire fiscal year. Even then, the figure beat the CSO's estimate of 8% contraction. 

Some optimism also came with Chief Economic Adviser K V Subramanian’s statement that the overall impact of the second wave of Covid-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead.

 BSE Sensex fell 2.56 points to 51,934.88, while the CNX Nifty was down by 7.95 points or 0.05% to 15,574.85.  

DIXON | Stock Analysis And Price Outlook   

Nifty Outlook

Key  Data

Futures of NIFTY

Closing Price15618.15
Price Change34.95
Change %0.224
Future OI10697.02 K
OI Change %1.37
Future Contracts101.28 K
Contracts Change8.28

Put / Call Options

Call Max Traded Strike Price16000.00
Call Max Traded SP Contracts49418
Call Option Open Interest18013.05 K
Call Option OI Chg %1.07
Put Max Traded Strike Price15500.00
Put Max Traded SP Contracts43135
Put Option Open Interest28922.92 K
Put Option OI Chg %2.63

Put Call Ratio - 24/06/2021

Put Open Interest28922.92 K
Call Open Interest18013.05 K
PCR Open Interest1.61
PCR OI ReadingStrong Bearish
Put Contracts Traded346694.00
Call Contracts Traded271942.00
PCR Volume1.27
PCR Vol ReadingStrong Bearish

Level Outlook

nifty , finvestonline.com

Today Nifty remained in a range bound with  slightly negative nature and closed nearly 10 points down . Nifty will again test a new All time high  . So  dip should be utilized as a buying opportunity. Also PE maximum open interest shifted from 15000 to 15500 which indicates that Nifty is heading towards 16000 marks. 

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.

Nifty can test 15683  in upside and in downside  15451 will act important support.

CHEMCON | Stock Analysis And Price Outlook 

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.

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