Nifty Jerk on Brexit Jitters and Futures Trading Tips

Indian Futures and Options Trading markets marked another weekly loss as caution on how markets would go ahead with Britain’s exit from European Union. The Bombay Stock Exchange Sensex closes at 26398 were slide by 605 point or impel low by 2.24 percent. Nse Nifty Closes at 80881 were debited by 182 points or plant slide slider down by 2.20 percent. The S&P BSE Midcap settling at 11313, down by 123 points or by 1.07 percent, while S&P BSE Small cap closer at 11279 down by 168 points, or 1.46 percent each on Intraday Stock Market Trading.

Sensex Major Resistance on Upside at 26896-27393-27891

Sensex Major Support on Downside at 25907-25415-24918

Trend Deciding Level at 26404

20 DSMA at 26718

40 DEMA at 26254

Short Term Trend: DOWN

Medium Term Trend: DOWN

Nifty Index Major Resistance on Upside at 8263-8438-8612

Nifty Index Major Support on Downside at 7921-7754-7579

Trend Deciding Level at 8096

20 DSMA at 8187

40 DEMA at 8041

Short Term Trend: DOWN

Medium Term Trend: DOWN 

Major Headlines

Tata Motors collapsed as Bexit occurs

Motherson Sumi droops 12 Percent

Sun Pharma publicized its buyback

Nifty Indices 

On 24 June 2016: Foreign Institutional Investors (FII) Net Sold – INR 629.14 Crores and Domestic Institutional Investors (DII) Net Bought – INR 114.94 Crores.

The Nifty opened with a deep cut and ended the trading session on a negative note. In the first half of the session, the Index saw a sharp sell-off. But, it recovered almost One Hundred Fifty Points from the intraday low and ended the day near the high point. The Nifty breached several crucial technical levels today in the wake of the weak opening. The Nifty also broke the medium term trend line support, indicating reversal of the uptrend. The up move which we saw from the bottom is seen as a pull back and once the pull back is over, the Nifty should resume its downtrend. On the higher side, 8125–8165 will now act as a strong resistance, whereas on the downside, 8060–7992 will be the support zone for the Nifty.

Meanwhile, the Bank Nifty also saw a significant cut, pointing to a false breakout. However, the Bank Nifty has in use support at the short term trend line and has jumped back from there. Given that the Bank Nifty has broken 17500-17550 levels with a gap down, the trend has turned bearish. On the upside, 17527–17762 levels will now act as resistance and on the downside, 17280–17067 levels will act as support. Overall, the trend for the Nifty and the Bank Nifty has turned bearish.

We revise our bullish outlook on the nifty to bearish for a target of 7715 in the short term.

In the daily chart the index is trading below the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8187 and 8041 respectively. The thrust indicator is trading in negative sort on the daily chart

In the hourly chart, Nifty is trading below the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 8140 and 8141 correspondingly, the hourly impetus indicator encompass turned negative.

The market duration was turned negative with 329 advances and 1235 declines, Unchanged 58 Total Issue 1622 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8158-8241-8323

Nifty Future Major Support on Downside is at 7960-7845-7762

Trend Deciding Level at 8043

Bank Nifty Major Resistance on Upside at 17563-17757-17950

Bank Nifty Major Support on Downside at 17043-16717-16523

Trend Deciding Level is at 17237

30 Days Simple Moving Averages @ 8088

50 Days Simple Moving Averages @ 7993

150 Days Moving Averages @ 7707

200 Days Simple Moving Averages @ 7775

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Futures Trading Tips 

Buy Nifty Fut above 8096 sl 8073 Tgt 8118-8141 {Or} Sell Below 8051 sl 8073 Tgt 8033-8011

Buy Bank Nifty Fut above 17400 sl 17366 Tgt 17424-17457 {Or} Sell Below 17333 sl 17366 Tgt 17300-17268

Multibagger Stock

Buy Emmbi Industries Limited 100 Target 130 Time Period: 6-9 Months

Curious Fact 

It is thought that a yawn works to send more oxygen to the brain, therefore working to cool down and wake it up.   

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