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Stock Market Daily Updates: 17 June 2021

Nifty Future has Downside support levels are at 15737 – 15707 Point; below 15707 Point, other support levels are at 15676 - 15606 Point.

Photo Credit :

1612866925_q90Bev_2021_02_09T040221Z_1_LYNXMPEH18076_RTROPTP_4_INDIA_MARKETS.JPG

Dear Trader…

Indian markets ended with modest losses on Wednesday as firm crude oil prices and negative Asian stocks spoiled investors sentiment. 

FII-foreign institutional investors, foreign portfolio investors-FPIs, on Wednesday saw a net sale of Rs 870.29 crore in the cash segment. A total of Rs 6810.54 crore was sold against a total purchase of Rs 5940.25 crore. DII-domestic institutional investors today saw a net sale of Rs 874.20 crore in the cash segment. A total of Rs 4901.72 crore was sold against a total purchase of Rs 4027.52 crore.

Ø INDEX MOVEMENT - 17.06.2021

Ø Nifty Future closed @ 15790 as on 16.06.2021..!!

Nifty Future has Downside support levels are at 15737 – 15707 Point; below 15707 Point, other support levels are at 15676 - 15606 Point.

If Nifty Future crosses @ 15888 Point, again then the upper side target is quite high and it may touch @ 15909 Point in the short term...!!!

Ø Bank Nifty Future closed @ 35101 as on 16.06.2021..!!

Bank Nifty Future has Downside support levels are at 34808 – 34676 Point; below 34676 Point, other support levels are at 34530 – 34474 Point.

I am positive for the next bullish trend only above @ 35404 Point but be with the trend. Let the market decide further moves.

If Bank Nifty Future crosses @ 35404 Point, again then the upper side target is quite high and it may touch @ 35575 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

Ø TITAN LTD @ Positive Trend @ Rs 1686 with Stoploss of Rs @ 1670 for the Target near @ Rs 1737 - 1744 in short term…..!!!

Ø HAVELLS INDIA @ Positive Trend @ Rs 990 with Stoploss of Rs @ 973 for the Target near @ Rs 1018 – 1030 in short term…..!!!

Ø AURO PHARMA @ Positive Trend @ Rs 960 with Stoploss of Rs @ 944 for the Target near @ Rs 997 - 1008 in short term…..!!!

Ø TATA CHEMICAL @ Positive Trend @ Rs 717 with Stoploss of Rs @ 710 for the Target near @ Rs 747 - 760 in short term…..!!!

Ø ADANI ENT. @ Negative Trend @ Rs 1447 with Stop loss of Rs @ 1460 for the Target near @ Rs 1417 – 1470 in short term...!!!

Ø ESCORTS LTD @ Negative Trend @ Rs 1212 with Stop loss of Rs @ 1220 for the Target near @ Rs 1177 - 1160 in short term...!!!

Ø HCL TECHNO. @ Negative Trend @ Rs1008 with Stop loss of Rs @ 1015 for the Target near @ Rs 969 - 955 in short term...!!!

Ø BERGER PAINT @ Negative Trend @ Rs 833 with Stop loss of Rs @ 848 for the Target near @ Rs 803 – 797 in short term...!!!

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Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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