Sunday, June 13, 2021

Stock Market Tomorrow | Nifty Outlook 14 June 21

  

 Nifty and  Stock Market Outlook 

The market closed at a new high on June 11 .The Nifty50 climbed 61.60 points to ends 15,799.40.

Nifty Outlook


Key  Data

Stocks under F&O ban on NSE

Five stocks—BHEL, Canara Bank, Indiabulls Housing Finance, NALCO, and Sun TV Network—are under the F&O ban for June 14. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 18.64 crore, while domestic institutional investors (DIIs) purchased shares worth Rs 666.36 crore in the Indian equity market on June 11, provisional data available on the NSE showed.

Put option data

Maximum put open interest of 30.16 lakh contracts was seen at 15,000 strike, which will act as a crucial support level in the June series.

This is followed by 15500 strike, which holds 27.78 lakh contracts, and 15700 strike that has accumulated 16.51 lakh contracts.

Call option data

Maximum Call open interest of 24.64 lakh contracts was seen at 16,000 strike, which will act as a crucial resistance level in the June series.

This is followed by 16100 strike, which holds 14.11 lakh contracts, and 16500 strike, which has accumulated 14.02 lakh contracts.


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Chart & Outlook


The Nifty50 climbed 61.60 points to ends 15,799.40 and formed a Doji candle on the daily charts, as the closing was near the opening levels.Normally, the formation of Doji after a reasonable decline or at the new highs signals caution for the bulls at the highs.

Though momentum on the upside has slowed down, the market breadth remains intact and there is no indication of profit-booking or reversal from the highs. 

Still 16000 is important level to watch in Nifty. Although trend is still positive , but initiate long position after Nifty trade above 15836 level for sometime for immediate  level of 16000 . Otherwise avoid long position and wait and watch.

For tomorrow 15749 - 15688 will act as support and  15836 - 15894 will act as resistance in upside.


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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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