Saturday, June 5, 2021

Stock Market Weekly | Nifty Outlook 07 June 21


 Nifty and  Stock Market Outlook 

Stock Market Today 

Indian equity benchmarks edged lower on Friday on account of profit booking in banking shares after the Reserve Bank of India (RBI) held key interest rates steady at record lows as widely expected and maintained it accommodative stance to revive the country's economic growth.

indices traded lower in the second half, extending losses amid selling pressure. Some anxiety also came as the RBI revised its estimate for economic growth to 9.5 per cent for the current fiscal from an earlier projection of 10.5 per cent because of the adverse impact of the second wave of coronavirus infections.

BSE Sensex fell 132.38 points or 0.25% to 52,100.05, while the CNX Nifty was down by 20.10 points or 0.13% to 15,670.25.   

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

Nifty Outlook

Key  Data

Put / Call Options

Call Max Traded Strike Price16000.00
Call Max Traded SP Contracts54604
Call Option Open Interest19024.42 K
Call Option OI Chg %5.13
Put Max Traded Strike Price15500.00
Put Max Traded SP Contracts45304
Put Option Open Interest30611.85 K
Put Option OI Chg %2.37

Put Call Ratio - 24/06/2021

Put Open Interest30611.85 K
Call Open Interest19024.42 K
PCR Open Interest1.61
PCR OI ReadingStrong Bearish
Put Contracts Traded371548.00
Call Contracts Traded286973.00
PCR Volume1.29
PCR Vol ReadingStrong Bearish

HDFC| Consistence Performer | Analysis & Outlook

Chart & Outlook

Friends , we are continuously discussing that currently Nifty is in strong upside blue zone and every dip should be utilized as a buying opportunity . Those who followed our previous market outlook have definitely made money. 

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.

If  feeling fear to buy Nifty at all time high levels , no problem avoid , but don't short Nifty until we see a clear trend  reversal .

For the upcoming week still highest CE open interest is at 16000 level and will act strong resistance level too and in downside highest PE open interest build at 15500 level , which will act immediate support for Nifty.
For Monday we should stay with trend  and follow buy on dips for the levels of 15748 -15776  .

TIMETECHNO | Future Outperformer | Analysis And 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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