Possible repo rate cut by RBI on its next monetary policy (scheduled to be held on 18th June) alongwith improvement in global cues made Nifty to close at 4997.10 with a huge intraday gain of 133.80 points.
For today, WATCH 5027/5033 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 5050. IN THAT CASE, WE MAY EXPECT NIFTY TO TOUCH EVEN 5100 IN VERY SHORT TERM WHEREAS ON THE DOWNSIDE, BELOW 4970, SUDDEN SELL OFF MAY BRING NIFTY TOWARDS 4950/4933/4900 AND EVEN 4882.
For today, WATCH 5027/5033 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 5050. IN THAT CASE, WE MAY EXPECT NIFTY TO TOUCH EVEN 5100 IN VERY SHORT TERM WHEREAS ON THE DOWNSIDE, BELOW 4970, SUDDEN SELL OFF MAY BRING NIFTY TOWARDS 4950/4933/4900 AND EVEN 4882.
From options data,,highest options base has been shifted to 4800 & 4500 put and 5000 & 5200 calls. As of now, for June series, 4760/4800 may act as support and 5070/5100 may act as resistance.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.