12.00 AM Jun 13th
Support comes in at the 15900, 15600, 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 16203, 16359, 16700, 16900, 17055, 17226, 17430, 17613, 17792, 17948, 18200, 18342, 18600.
The Nifty has more or less moved on expected lines and has gone nowhere, has made heavy weather of its progress which has not only stagnated but in fact has gone the other way and has come extremely close to its near term make or break level i.e. 16203 (has closed at 16201.80). Maximum call open interest comes in at 17000 followed by 17500 while maximum put open interest comes in at 16000 followed by 15500 indicating a slightly similar trading range (not very surprising considering the fact that we are in the third week of the current series) compared to the last week but the situation remains fluid with movements expected on either side. Nifty has seen addition in open interest during the week to end at 01.14 cr (rounded off) and has seen a decrease of nearly 02.22% (rounded off) on the last trading session of the week; the Bank Nifty has seen some open interest being added during the week to end at 26.23 lakh (rounded off) compared to the last week; has actually seen major open interest (13.11%) being increased 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 19.00 level (in terms of closing) except that it ended at 19.58 (higher from an intra week low of 18.16) due to which the market has been volatile throughout the week. The Nifty has been floundering and has been under pressure for 5 out of the last 6 trading sessions indicating near term weakness while even the Bank Nifty has equally complicit in its weakness. Despite a lower Vix, the markets havent stabilized while the Cboe Vix in the USA has started bouncing back (point to worry but could be due to the FOMC meeting on 15 June). It would be prudent to stay on the sidelines for a clear picture to emerge. Support comes in at the 15900, 15600, 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 16203, 16359, 16700, 16900, 17055, 17226, 17430, 17613, 17792, 17948, 18200, 18342, 18600.
|S&P BSE Auto||27673.46||284.03|
|S&P BSE BANKEX||40065.76||552.08|
|S&P BSE Capital Goods||26865.98||418.53|
|S&P BSE Consumer Durables||37089.69||1128.89|
|S&P BSE FMCG||14885.02||97.54|
|S&P BSE Healthcare||22054.96||118.86|
|S&P BSE IT||28765.67||254.16|
|S&P BSE Metals||15585.80||171.40|
|S&P BSE Oil and Gas||17591.78||181.44|
|S&P BSE PSU||8070.95||118.07|
|S&P BSE TECk||13189.10||85.96|
|S&P BSE Smallcap||25545.47||305.79|
|S&P BSE Midcap||22546.33||200.27|
|Nifty MID100 Free||27503.70||299.40|
How are the markets looking?
Hemen Kapadia, Technical Analyst
Day - 5th Jul. 2022
Time - 13.00hrs