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SENSEX: 52501.98 -271.07

NIFTY: 15767.55 -101.70

Market Outlook

Ventura Securities,

12.00 AM May 31st

Support comes in at the 15432, 15257, 15064, 14869, 14653, 14434, 14250, 14000, 13778, 13598, 13400, 13145, 12950, 12770, 12600, 12431, 12292, 12100, 11959, 11856, 11753, 11605, 11495, 11340, 11235, 11143, 11078 while resistance comes in at 15800.

The Nifty has moved on expected lines, has moved up and has almost broken out from its protracted trading range and a further upside seems to be on the cards, sustainability above the 15300 levels is a must for the current ongoing positives to continue. Maximum call open interest comes in at 16000 followed by 15500 while maximum put open interest comes in at 14500 followed by 15000 indicating a higher but slightly rough trading range (not very surprising considering the fact that we are in first week of the current series) compared to the last week but the situation remains fluid with movements expected on either side. Nifty has seen some addition in open interest during the week to end at 01.04 cr (rounded off) and has seen a notable increase of nearly 05.33% (rounded off) on the last trading session of the week; the Bank Nifty has seen some decent open interest being increased during the week to end at 17.45 lakh (rounded off) compared to the last week; has actually seen nominal increase in open interest (01.62%) on the last trading session of the week. The Vix has spent almost the entire week in a rangebound movement (with a mixed bias) above the 17.20 level (in terms of closing) except that it ended at 17.40 (higher from an intra week low of 17.23) which has resulted in an upbeat market. The Nifty seems to have finally made up its mind to appreciate after weeks of dithering and has not only posted a fresh all time high but has also closed at a fresh all time high indicating its intention to appreciate further as long as it sustains above the 15300 level. A lower Vix also seems to support the aforesaid view while Banks, IT and Realty look like positive sectors. Support comes in at the 15432, 15257, 15064, 14869, 14653, 14434, 14250, 14000, 13778, 13598, 13400, 13145, 12950, 12770, 12600, 12431, 12292, 12100, 11959, 11856, 11753, 11605, 11495, 11340, 11235, 11143, 11078 while resistance comes in at 15800.

Market Action

INDIAN INDICES

S&P BSE Auto23900.83-191.69
S&P BSE BANKEX39675.91-254.82
NIFTY BANK35003.50-244.25
S&P BSE Capital Goods22575.26-316.51
S&P BSE Consumer Durables35287.79-358.91
S&P BSE FMCG13467.8960.86
S&P BSE Healthcare25166.08-157.61
S&P BSE IT28986.4578.22
S&P BSE Metals18835.95-498.31
S&P BSE Oil and Gas17227.28-43.83
S&P BSE PSU7914.91-43.43
S&P BSE TECk12842.8112.41
S&P BSE Smallcap25015.06-171.21
S&P BSE Midcap22689.35-218.06
Nifty MID100 Free27108.50-255.80

GLOBAL INDICES

EXCLUSIVE LIVE CHAT!

How are the markets looking?

Hemen Kapadia, Technical Analyst

Day - 15th Jun. 2021
Time - 13.00hrs

View last chat transcript