MARKET WEEKLY OUTLOOK : 29th JUN to 5th JULY 2019 | BUDGET 2019 WEEK

MARKET WEEKLY OUTLOOK : 29th JUN to 5th JULY 2019 | BUDGET 2019 WEEK

/ By : / Category : NIFTY & NIFTY BANK OUTLOOK

Nifty :

Nifty is oscillating along its mean in rising channel. Last week nifty has tried to retrace the falling trend from 12103 to 11625 but rebound from its 61.8% retracement level of 11925 so it may consolodate in the range of 11625 to 11925. 

There may be some gap-up opening on Monday on the back of news : “D-Street cheers outcome of Trump-Xi talks, expects it to give market a leg-up”  

Option datas also reflects that Nifty may trade in two broader range, Range 01 of 11600 – 11900 & Rang 02 : 11500 – 12000.

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LTP @ 28th Jun 2019: 11788.85

Major Support-1: 11690

Major Support-2: 11550

Major Resistance-1: 11865
Major Resistance-2: 11925

(Note: Whenever price closes below its Support level or closes above its Resistance level then further move in that direction will accelerate. If it does not then it is advisable to accumulate near to support & book the profit near to resistance level.)

NIFTY 50

 

Nifty Bank :

Nifty Bank is taking support of 31000 in shorter time frame chart. Major levels of supports & resistances are given below.

LTP @ 28th Jun 2019: 31105.20

Major Support-1: 31000

Major Support-2: 30800

Major Resistance-1: 31200
Major Resistance-2: 31500

(Note: Whenever price closes below its Support level or closes above its Resistance level then further move in that direction will accelerate. If it does not then it is advisable to accumulate near to support & book the profit near to resistance level.)

 

NIFTY BANK

 

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Disclaimer: 

Above details are my personal views on the Indices so please do your own analysis before doing any trade/invest.

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