Thursday, June 3, 2021

Stock Market Tomorrow | Nifty Outlook 04 June 21


 Nifty and  Stock Market Outlook 

Stock Market Today 

Indian equity benchmarks ended at record highs on Thursday after showing lacklustre trend in the previous two sessions, as firm global cues, a consistent fall in daily Covid-19 cases, and a stronger rupee kept market mood upbeat. 

The benchmarks staged a gap up opening, as traders took support with Minister of State for Finance Anurag Thakur’s statement that Indian economy is resilient and will rebound in the times ahead based on consistent reforms that have ensured strong fundamentals through these difficult times.

BSE Sensex rose 382.95 points or 0.74% to 52,232.43, while the CNX Nifty was up by 114.15 points or 0.73% to 15,690.35.  

Syncom Formulations (India) Ltd | CMP : 3 | Stock To Watch 

Nifty Outlook

Key  Data

Futures of NIFTY

Closing Price15712.40
Price Change95.65
Change %0.612
Future OI10466.55 K
OI Change %4.00
Future Contracts79.98 K
Contracts Change-10.72

Put / Call Options

Call Max Traded Strike Price16000.00
Call Max Traded SP Contracts42888
Call Option Open Interest18095.40 K
Call Option OI Chg %1.81
Put Max Traded Strike Price15500.00
Put Max Traded SP Contracts32013
Put Option Open Interest29903.78 K
Put Option OI Chg %2.73

Adani Transmission | Potential Multibagger | Price Outlook 

Put Call Ratio - 24/06/2021

Put Open Interest29903.78 K
Call Open Interest18095.40 K
PCR Open Interest1.65
PCR OI ReadingStrong Bearish
Put Contracts Traded350117.00
Call Contracts Traded253955.00
PCR Volume1.38
PCR Vol ReadingStrong Bearish

Chart & Outlook

Tata Steel | Future Outperformer | Multi Bagger 

Friends as discussed yesterday that the recent correction ended and we can see a new All Time High closing on Nifty in Today's session  and Nifty moved on our expectation and closed on a new All time high. 

Today 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.

Now tomorrow if Nifty stay above 15718 for sometime then again a  upside rally of 50-60 is possible . Otherwise market will remain sideways tomorrow . In downside 15626 will act as a good 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.

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