PRE MARKET REPORT - 24 JUNE, 2020

PRE MARKET REPORT - 24 JUNE, 2020

Global Cues:- 

1. Nifty seems to be keeping up with global markets.

2. SGX Nifty seems to be positive. 10500 was tested today. Likely to break it at least once.

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

Technical Setup:-

Option Chain Analysis:

1. No solid concentration at both ends. Signals sideways with positive bias

2. 10300 is very strong support now. 

FII- DII Data:

Conclusion:

1. 10300 is very strong support now. 

2. 10500-10600 is a new resistance level.

3. Far out of the money call writing can be done with a hedge to yield decent profits for expiry