Tuesday, June 22, 2021

Stock Market Tomorrow | Nifty Outlook 23 June 21


Stock Market Today 

Nifty opened on a strong note and registered a day high at 15,895 levels. However, the profit booking at higher levels dragged the index lower to close on a flat note. The daily price action has formed a bearish candle carrying either side shadows representing volatility at higher levels. 

BSE Sensex rose 14.25 points or 0.03% to 52,588.71, while the CNX Nifty was up by 26.25 points or 0.17% to 15,772.75. 

The top gaining sectoral indices on the BSE were Capital Goods up by 1.95%, Industrials up by 1.35%, Auto up by 1.30%, Power up by 1.17% and Basic Materials up by 0.79%, while Realty down by 0.75%, Bankex down by 0.32%, FMCG down by 0.21% and Finance down by 0.11% were the top losing indices on BSE.

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Nifty Outlook

Key  Data

Call option data

Maximum Call open interest of 67.95 lakh contracts was seen at 16000 strike, which will act as a crucial resistance level in the June series.

This is followed by 15900 strike, which holds 57.69 lakh contracts, and 15800 strike, which has accumulated 51.68 lakh contracts.

Put option data

Maximum Put open interest of 41.54 lakh contracts was seen at 15500 strike, which will act as a crucial support level in the June series.

This is followed by 15000 strike, which holds 39.08 lakh contracts, and 15600 strike, which has accumulated 32.76 lakh contracts.

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Chart & Outlook

key support levels for the Nifty are placed at 15,731, followed by 15,663  If the index moves up, the key resistance levels to watch out for are 15,840 and 15,939.
Tomorrow in the first half Nifty can remain choppy in negative zone but as the day progress it can show strength .
If tomorrow Nifty stay above 15800 for sometime then 15898 will be seen in upside. 

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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