Nifty Today June 12th 2017: Today was a day of correction as the nifty opened 22 points in the red and stay red for the entire session. Nifty even broke both the 5-day and 13-Day moving average and took support near 9600 levels and finally managed to close 16 points above 9600 but the closing is well below the 5-Day Moving average.
Nifty 12th June 2017 Intraday Movement:
Opening: 9646.70, High: 9647.05, Low: 9598.50, Closing: 9616.40
Nifty Spot: 9616.40(-51.85)
Nifty 29 JUN 2017 Expiry Futures: 9620.15(-62.75)
Support: 9580, 9520
Events to watch: 14th June FOMC meeting outcome.
Nifty Forecast/Outlook for 13th June 2017: Nifty forms a bearish pattern and the opening price of the day is also near the highs of the day. Nifty is nearing 13-Day EMA where nifty can take support so we can expect a small pull back. As we said before to keep a close eye at 9630 levels as key level for long positions. Today’s closing as opened 9500 levels for nifty and any rise in the market can be used to short it.
Nifty’s Negative Signal: Nifty futures trading with only 4 points in the premium.
Nifty’s Positive Signal: Long term UP trend and nifty holding 13-Day EMA.
Nifty View for Tuesday: Sideways with Negative bias.
Nifty Short Term trend: UP
Nifty Target for 13th June 2017: Nifty can move between 9580- 9680 levels.
Nifty Long term up trend reversal point: Closing below 9160 Levels.
Nifty Strategies: Buy One lot 9700 PUT @ 121. and Sell Two Lots of 9400 PUT @ 25.Total Premium: 71(1*121- 2*25). Hold for a target of Rs 200 and stop loss Rs 10.
Open Nifty Strategies:
Position created on: 05-Jun-2017: Nifty 29 Jun 2017 expiry: Sell Nifty JUN 2017 9400 PUT @ 280 and Sell Nifty Jun 2017 9700 Call @ 120.Total Premium Outflow: 400 hold for a target of 300 stop around 480.Current Profit: 36.30 Points
Visit our website on 13th June 2017 8.30 PM to get the nifty view for 14th June 2017.
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