PRE MARKET REPORT - 16 JUNE, 2020

PRE MARKET REPORT - 16 JUNE, 2020

Global Cues:- 

1. We witnessed selling pressure in nifty. Nifty teased 9700 again.

2. The news seems to be floating about states going into lockdown again.

3. Corona cases are increasing at higher rates.

4. SGX Nifty seems to be positive

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

Technical Setup:-

Option Chain Analysis:

1. Strong Call writing at 9900, 10000 & 10200

2. Considerable open interests at 9700

FII- DII Data:

Conclusion:

1. Nifty is likely to trade between 9700 to 10100

2. If any of the above levels are breached, we might witness breakout or breakdown.

3.9700 is strong support followed by 9500

4. 10000 is immediate resistance followed by 10100