Nifty Today June 16th 2017: Today was a day of consolidation were nifty traded in a narrow range of 50 points. Nifty opened in the green and moved in the red but still managed to close near the opening levels by gaining 10 points. Nifty closed below the 13-Day EMA and also showing indecisiveness.
Nifty 16th June 2017 Intraday Movement:
Opening: 9595.45, High: 9615.85, Low: 9565.50, Closing: 9588.05
Nifty Spot: 9578.05(+10.00)
Nifty 29 JUN 2017 Expiry Futures: 9597.25(-3.65)
Support: 9550, 9520
Resistance: 9600, 9630
Nifty Forecast/Outlook for 19th June 2017: Nifty forms a doji pattern near the support levels and also forming an inside bar which means the open and closing pricing are almost equal and the low and high prices are within the yesterday’s high and low price which suggests indecisiveness in the market. Currently nifty is below all the key moving average and above the strong support placed at 9520. A closing above 9600 or below 9520 will define the next trend.
Nifty’s Negative Signal: Nifty closing below all the key moving average.
Nifty’s Positive Signal: Long term UP trend.
Nifty View for Monday: Sideways with Negative bias.
Nifty Long Term trend: UP
Nifty Target for 19th June 2017: Nifty can move between 9520- 9630 levels.
Nifty Long term up trend reversal point: Closing below 9160 Levels.
Open Nifty Strategies:
- Position created on: 05-Jun-2017: Nifty 29 Jun 2017 expiry:Sell Nifty JUN 2017 9400 Call @ 280 and Sell Nifty Jun 2017 9700 PUT @ 120.Total Premium Outflow: 400 hold for a target of 300 stop around 480.Current Profit: 65.40 Points (i.e. Profit of Rs. 4905)
- Position Created on 12-Jun-2017: Buy One lot 9700 PUT @ 121 and Sell Two Lots of 9400 PUT @ 25. Total Premium Outflow : 71 hold for target of rs.200 with a stop loss :10 Current Profit : 16 Points (i.e. Profit of Rs. 1200)
Visit our website on 19th June 2017 8.30 PM to get the nifty view for 20th June 2017.
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