Tuesday, June 8, 2021

Stock Market Tomorrow | Nifty Outlook 09 June 21


 Nifty and  Stock Market Outlook 

Stock Market Today 

In a volatile trading session, Indian equity benchmarks ended marginally lower on Tuesday, dragged by losses in Metal, Banking and Energy stocks amid weak cues from global markets. 

Markets made slightly positive start but soon turned negative, as domestic credit ratings agency Crisil cut its FY22 growth estimate for India to 9.5 per cent from the earlier 11 per cent due to the hit to private consumption and investments following the second wave of COVID-19.

 Traders took note of report that FPIs stood as net sellers in May to the tune of $397 million as against an outflow of $1,297 million seen in April.

BSE Sensex fell 52.94 points or 0.10% to 52,275.57, while the CNX Nifty was down by 11.55 points or 0.07% to 15,740.10

THEMISMED | Potential Outperformer

Nifty Outlook

Key  Data

Put / Call Options

Call Max Traded Strike Price15800.00
Call Max Traded SP Contracts32317
Call Option Open Interest19530.82 K
Call Option OI Chg %0.514
Put Max Traded Strike Price15700.00
Put Max Traded SP Contracts41307
Put Option Open Interest31768.42 K
Put Option OI Chg %0.947

BURGERKING | Stock Analysis And Price Outlook

Put Call Ratio - 24/06/2021

Put Open Interest31768.42 K
Call Open Interest19530.82 K
PCR Open Interest1.63
PCR OI ReadingStrong Bearish
Put Contracts Traded267534.00
Call Contracts Traded213948.00
PCR Volume1.25
PCR Vol ReadingStrong Bearish

NIITLTD | Stock Analysis And Price Outlook

Chart & Outlook

Friends as discussed in yesterday market outlook that today's market will be sideways with negative nature and  Nifty exactly performed on our expectation whole day. 

Friends still Nifty is in uptrend , but today's data and chart now showing sign of slightly weakness in Nifty. So now the time came that the strategy that we were following from the previous few trading session should be revised now.

Now for tomorrow onward our approach should be cautious  instead of buy on dips that we were following previously. Now we will discussed below that what  are the  factors we should watch .

1. Maximum CE  open now shifted from 16000 level to 15800 levels . Which indicates that the level of 16000 levels that we were expecting that Nifty would test now shifted to 15800, which further means that the upside level now dropped by 200 points.

2. Now PE maximum open interest also shifted from 15500 level to 15700 levels. Which means there is also no faith on strong correction in Nifty too. Banknifty is also not supporting Nifty.

3. Now Nifty has created two major hurdles within a short range of 100 points , i.e 15700 to 15800 levels. Which indicates a very narrow sideways market.

4. Now major movement will be seen if Nifty breaks any of the two hurdles , otherwise Nifty will remain sideways.

5. So for tomorrow avoid Nifty until it crosses any of the two hurdle levels clearly for sometime. Be stock specific .

BATAINDIA | 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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