Wednesday, June 23, 2021

Stock Market Tomorrow | Nifty Pre Market Analysis 24 June 21

  


Stock Market Today 

The market erased all its opening gains to trade lower for major part of the session amid volatility on June 23, ahead of expiry of June futures & options contracts.The Nifty50 dropped 85.80 points to 15,687 and formed bearish candle on the daily charts as closing was lower than opening levels.




Nifty Outlook


Key  Data


Call option data

Maximum Call open interest of 82.05 lakh contracts was seen at 15,800 strike, which will act as a crucial resistance level in the June series.

This is followed by 15,900 strike, which holds 65.40 lakh contracts, and 16,000 strike, which has accumulated 57.19 lakh contracts.


Put option data

Maximum Put open interest of 53.60 lakh contracts was seen at 15,500 strike, which will act as a crucial support level in the June series.

This is followed by 15,600 strike, which holds 47.15 lakh contracts, and 15,000 strike, which has accumulated 32.6 lakh contracts.



Chart & Levels


The short term trend of Nifty is weak with rangebound action. "The overall market breadth and broad market indices are showing resilience compared to benchmark Nifty. The present weakness is expected to be over in the next 1-2 sessions and the market could bounce back again from the lows. Immediate support is placed at 15,602 levels.





Key support and resistance levels on the Nifty

The key support levels for the Nifty are placed at 15,602, followed by 15,552. If the index moves up, the key resistance levels to watch out for are 15,835 and 15,928.




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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