PRE MARKET REPORT - 15 JUNE, 2020

PRE MARKET REPORT - 15 JUNE, 2020

Global Cues:- 

1. Nifty had a strong rally from 8800 to 10300 for the last two weeks. A correction was expected. On Friday we witnessed the gap down.

2. Due to short-covering & profit-booking, we saw nifty recovering from an intraday low of 9530 to 9972.

3. 10350 still seems to be very strong resistance.

4. No major local announcements in the coming period. So we will tend to follow global markets.

Technical Setup:-

Option Chain Analysis:

1. There is no indication of a directional view. Nifty is likely to consolidate

FII- DII Data:

Conclusion:

1. Nifty is likely to trade between 9700 to 10100

2. I don't expect violent moves tomorrow.

3. As major moves are completed recently. Nifty is likely to consolidate in range.