PRE MARKET REPORT - 12 JUNE, 2020

PRE MARKET REPORT - 12 JUNE, 2020

Global Cues:- 

1. The nifty rally has finally come to an end yesterday. We witnessed a significant fall. Nifty closed at 9902.

2. Critical support levels of 10000 & 9950 were breached successfully.

3. Dow Jones experienced a gap down yesterday followed by continuous decline.

4. SGX Nifty future is currently trading around 9600. 

5. There is panic among market regarding second wave of COVID-19

6. FII & DII turn out to be net sellers yesterday. So trend seems to be negative now.

Technical Setup:-

Option Chain Analysis:

1. Nifty is in a weak trend. 9500 has decent Open Interest. Followed by 9300.

FII- DII Data:

Conclusion:

1. Nifty is likely to open around 9600 to 9700.

2. It will face resistance around 9700 followed by 9900

3. Strong support at 9500. That gap needs to be filled or will it be a gap on gap. Interesting to watch out for.

4. Nifty has entered weak trend now.

3. Nifty likely to trade between 9500 to 9900.