PRE MARKET REPORT - 11 JUNE, 2020

PRE MARKET REPORT - 11 JUNE, 2020

Global Cues:- 

1. Nifty witnessed a strong rally from the last couple of trading sessions. Now the market is in            consolidation mode

2. We are witnessing some profit booking at 10200-10300 levels by DII (Domestic Institute Investors).

3. Dow Jons reacted negatively to the FED decision as interest rates will be near to zero for a couple of years.

4. SGX Nifty future is flat with positive bias.

5. Nifty closed at 10116.

6. Technically 10000 is immediate support if breached 9900 should be next support.

7. Yesterday Bank Nifty was neutral throughout the day. We witnessed some spike in the last couple of minutes.

Technical Setup:-

Option Chain Analysis:

1. Yesterday we saw that small spike due to unwinding in the call side. Still, 10200-10300 is the resistance zone.

2. 10000 is extremely strong support, followed by 9900.

FII- DII Data:

Conclusion:

1. Nifty will face strong resistance at 10200-10300. Immediate support at 10000, followed by 9900.

2. Nifty is likely to be range-bound until it breaks the above-mentioned levels.

3. Nifty likely to trade between 9950 to 10300.