Anuj Singhal, Managing Editor, CNBC Voice
Tomorrow, today and tomorrow! There are 3 important aspects in the market today. What happened last night? What will happen in today’s session? What is the importance of tomorrow’s session? What happened yesterday?- Donald Trump again raged Iran. Crude went close to $ 78, came down slightly from there. What to happen today?- Today is the sandwich session between 2 expiry. What else is to happen today?- Late night US Fed decision will come. What is to happen tomorrow- Tomorrow is the weekly expiry of Nifty. Tomorrow and what to happen- will react to the decision of the market Fed. There will be 3 days to say but the market will feel like 3 century.
Market: What are the signs?
Brent again reached the boil, close to $ 77. If Brent goes above $ 80, then the Nifty is very negative. Yesterday the US markets also declined, but as much as we had digested. The dollar index +rose 0.86% to about 99, yesterday the rupee also closed at the lowest level of the day. We have been keeping a boom on IT for the last one week. It has been constantly talked about that it will handle the market. Tension increased in Israel-Iran at night. The US deployed more military assets in the region. Now it is clear that this struggle is from US-Iran, Israel is working only for US. President Trump held a meeting with his national security team, not yet information about the exact plan. Trump has demanded Iran to ‘surrender’ unconditional on Truth social. Trump warned of a possible attack on Iran’s ‘supreme leader’, but said ‘we will not target them yet, at least not’. Trump also said that Iran’s airspace is now under the control of US. Tonight will be an eye on FOMC’s decision and Powell’s press conference tonight.
What should be the strategy now?
Even though the screen was bad, yesterday Higher made high and low. On 16 June, the Nifty was at a lower level at 24,703 and high at 24,967. On 17 June, the Nifty was at a lower level at 24,813 and high at 24,982. The lower level of Nifty has also been improving for two days. Basically we are in the range of 24,450-25,000. To say that the range of 550 points is large, but it is just 2%. The problem is that both ends of the range are being tested repeatedly. View -based tradind will not run in this market. Listen to everyone and do the policy of the market. If you want the index, keep the edge for some time. Do not carry any overnight position without hedge. Individual stocks show good action.
What can Powell sir do today?
The consensus is that US Fed will not make any change in interest rates. There is a lot of pressure on Powell, but they will decide without pressure, but even more Powell Saheb’s press conference will be important. If the roadmap is found on rate cuts, it will be very positive. For the last few days, IT has found a place to hide. If the roadmap for cuts in interest rates is found, IT will run further. But if the policy is Hawkish, then it is also possible to profit booking in IT.
Strategy on Nifty
The first support is at 24,800-24,850 (tomorrow’s low, 20 Dema) while the big support is on 24,700-24,750 (Low, Options Zone on Monday). The first registration is on 24,950-25,000 (the range peak, options zone) while the big registration was 25,150-25,200 (post-policy peak). Buy first support, sell on the first registration. Keep a stop loss of big support/registration.
Strategy on bank nifty
Bank Nifty is now below the RBI policy level. The bank Nifty closed close to the lowest level of the day. If the market falls, the bank will lead the Nifty to lead the decline. Yesterday 55800 i.e. 20 closed under Dema. The first registration is at 55,800-56,000 (20 and 10 Dema). Short coverings above 56,000 can also be carried up to 56,300. The first support is on 55,500-55,600 (Options Zone) while large support is at 55,000-55,200. If 55,500 is broken then up to 55,200 can also go.
Nifty Strategy for Today: 24,989-25,020 can go to Nifty, keep an eye on these levels in bank Nifty
(Disclaimer: The ideas given on Moneycontrol.com have their own personal views. The website or management is not responsible for this. Money control advice to users to seek the advice of the Setted Experts before making any investment decisions.
