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Whereas a lot of the Asian indices are within the purple, the Indian benchmark indices – the Nifty 50 (15,735) and the Sensex (52,720) – opened right this moment’s session flat. Until now for the day each indices haven’t taken any route and are buying and selling flat.
Among the many Asian majors, ASX 200, Nikkei 225 and KOSPI are down within the vary of 0.9-1.9 per cent. In distinction, Hold Seng is up by 1.3 per cent.
The market breadth of the Nifty 50 is exhibiting a detrimental bias because the advance-decline ratio stands at 22-28. Apparently, the mid- and small-cap indices are within the inexperienced – the Midcap 50 and Smallcap 50 are up by 0.3 and 0.45 per cent, respectively. Among the many sectoral indices, the Nifty Auto is prime gainer, up by 1 per cent whereas the Nifty Metallic is the highest loser, down by almost 0.9 per cent.
Futures: Just like the underlying Nifty 50, the June futures of the index opened right this moment’s session flat at 15,739 in comparison with yesterday’s shut of 15,737. Though the general bias is bearish, the worth motion reveals that the worth band of 15,675-15,750 can provide assist for Nifty futures. But when in any respect there’s a bounce right this moment, we anticipate it to be capped at 15,900.
Given the prevailing situation, merchants can keep on the fence and provoke contemporary brief positions when the contract breaches 15,675. Cease-loss might be at 15,775. Exit the shorts at 15,500.
Technique: Provoke contemporary brief positions when the contract breaches 15,675. Cease-loss might be at 15,775. Exit the shorts at 15,500.
Helps: 15,675 and 15,500
Resistances: 15,750 and 15,900
Revealed on
June 15, 2022
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