morning thoughts...
We informed in advance about the gann reversal dates of 19 and 22 june and all saw what happened on 19th june with markets facing a severe sell off and nifty taking supports at 20 dema of 10700 and bank nifty at 26250 and saw minor bounces and now if the markets has to bounce it can from this levels for 0.89% reversal gann retracement in coming session but with expiry on the corner one must expect high volatility and two side movements
On the global perspective the trade war between china and US has intensified and cannot be ignored for certain sectors and metals may witness pressure in near term
Falling rupee and strong dollar index with private banks lagging behind will also add to the factor
Indian vix has rose by 3% in last 1 day with continous addition of puts writers at 10700 and 10600 with addition of 1 lac shares whereas call writers at 10800 and 11000 saw addition of 90k shares
Bank nifty took supports at 20 dema with elastic pattern and must follow a range trade in coming session
Pharma has witnessed a good rally in past few days and now looks tired on charts and may see a halt as of now
It would also be seen that above 300 small caps are now below 52 week low with over 500 midcap stocks at pe below 12 which is a value buy if compared fundamentally
From last 7 days we were intimating that a sharp move is on way and exactly the same happened on our dates mentioned , is it over or a bigger move is yet to come , or a trap is laid at 20 dema for nifty and bank nifty
Coming to mid caps and broader markets the move and spread remains in margin so that section requires special emphasis on trades with proper stoplosses and quick exit
Once gain we are proceeding to bank nifty expiry date in a day or 2 and nifty and bank nifty monthly expiry next week and we have important gann dates pending on 22 , more in next week and months
Coming to the commodity markets a tight range with negative bias trades is seen in base metals , bullions and energy
Stocks to watch
Buy indigo 1180 pa
Buy reliance 1000 ca
Sell upl
Sell gold , silver , copper
Buy crude
We informed in advance about the gann reversal dates of 19 and 22 june and all saw what happened on 19th june with markets facing a severe sell off and nifty taking supports at 20 dema of 10700 and bank nifty at 26250 and saw minor bounces and now if the markets has to bounce it can from this levels for 0.89% reversal gann retracement in coming session but with expiry on the corner one must expect high volatility and two side movements
On the global perspective the trade war between china and US has intensified and cannot be ignored for certain sectors and metals may witness pressure in near term
Falling rupee and strong dollar index with private banks lagging behind will also add to the factor
Indian vix has rose by 3% in last 1 day with continous addition of puts writers at 10700 and 10600 with addition of 1 lac shares whereas call writers at 10800 and 11000 saw addition of 90k shares
Bank nifty took supports at 20 dema with elastic pattern and must follow a range trade in coming session
Pharma has witnessed a good rally in past few days and now looks tired on charts and may see a halt as of now
It would also be seen that above 300 small caps are now below 52 week low with over 500 midcap stocks at pe below 12 which is a value buy if compared fundamentally
From last 7 days we were intimating that a sharp move is on way and exactly the same happened on our dates mentioned , is it over or a bigger move is yet to come , or a trap is laid at 20 dema for nifty and bank nifty
Coming to mid caps and broader markets the move and spread remains in margin so that section requires special emphasis on trades with proper stoplosses and quick exit
Once gain we are proceeding to bank nifty expiry date in a day or 2 and nifty and bank nifty monthly expiry next week and we have important gann dates pending on 22 , more in next week and months
Coming to the commodity markets a tight range with negative bias trades is seen in base metals , bullions and energy
Stocks to watch
Buy indigo 1180 pa
Buy reliance 1000 ca
Sell upl
Sell gold , silver , copper
Buy crude
