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Stock Market Daily Updates: 18 June 2021

Inflation worries likely to ease somewhat as oil prices fell from multi-year highs on demand worries after new coronavirus cases jumped in Britain.

Photo Credit :

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FII-foreign institutional investors, foreign portfolio investors-FPIs, on Thursday saw a net sale of Rs 879.73 crore in the cash segment. A total of Rs 7607.30 crore was sold against a total purchase of Rs 6727.57 crore. DII-domestic institutional investors today saw a net purchase of Rs 45.24 crore in the cash segment. A total of Rs 5062.28 crore was sold against a total purchase of Rs 5107.52 crore.

Today, markets are likely to make positive start after two days of losses amid mixed global cues. Inflation worries likely to ease somewhat as oil prices fell from multi-year highs on demand worries after new coronavirus cases jumped in Britain.

Traders may take note of Fitch Ratings’ statement that global inflation trends and associated risks around interest rates and exchange rates may have direct sovereign credit implications, and added that a critical question for government debt sustainability is how inflation will affect debt/GDP ratios.

Ø INDEX MOVEMENT - 18.06.2021

Ø Nifty Future closed @ 15692 as on 17.06.2021..!!

Nifty Future has resistance at 15707 – 15717 Point; above which other resistance levels are at 15737 - 15777 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 15636 – 15606 Point; below 15606 Point, other support levels are at 15535 - 15505 Point.

I am positive for the next bullish trend only above @ 15777 Point but be with the trend. Let the market decide further moves.

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Nifty Future crosses @ 15777 Point, again then the upper side target is quite high and it may touch @ 15808 Point in the short term...!!!

Ø Bank Nifty Future closed @ 34682 as on 17.06.2021..!!

Bank Nifty Future has resistance at 34676 – 34737Point; above which other resistance levels are at 34888 – 35008 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 34474 – 34303 Point; below 34303 Point, other support levels are at 34008 – 33808 Point.

I am positive for the next bullish trend only above @ 35008 Point but be with the trend. Let the market decide further moves.

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Bank Nifty Future crosses @ 35008 Point, again then the upper side target is quite high and it may touch @ 35272 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

Ø RAMCO CEMENT @ Positive Trend @ Rs 1017 with Stoploss of Rs @ 1003 for the Target near @ Rs 1047 - 1060 in short term…..!!!

Ø TATA CHEMICAL @ Positive Trend @ Rs 707 with Stoploss of Rs @ 696 for the Target near @ Rs 744 – 750 in short term…..!!!

Ø JSW STEEL @ Positive Trend @ Rs 686 with Stoploss of Rs @ 676 for the Target near @ Rs 707 - 717 in short term…..!!!

Ø DABUR INDIA @ Positive Trend @ Rs 560 with Stoploss of Rs @ 553 for the Target near @ Rs 588 – 595 in short term…..!!!

Ø TITAN LTD @ Negative Trend @ Rs 1747 with Stop loss of Rs @ 1760 for the Target near @ Rs 1686 – 1677 in short term...!!!

Ø ESCORTS LTD @ Negative Trend @ Rs 1193 with Stop loss of Rs @ 1203 for the Target near @ Rs 1140 - 1127 in short term...!!!

Ø HAVELLS INDIA @ Negative Trend @ Rs1023 with Stop loss of Rs @ 1030 for the Target near @ Rs 983 - 970 in short term...!!!

Ø HCL TECHNO. @ Negative Trend @ Rs 1008 with Stop loss of Rs @ 1018 for the Target near @ Rs 973 – 960 in short term...!!!

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Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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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