Nifty Outlook:
The
S&P BSE Sensex created history on the expiry day on Thursday as it
rallied 494 points to hit a fresh record high of 30,793.43, surpassing
its previous peak of 30,712 hit earlier in the month of May. The rally
was not limited to Sensex as 22 stocks hit a fresh all-time high on the
BSE which include names like Maruti Suzuki, Shakti Pumps, EIH Hotels,
Adani Transmission, etc. About 88 stocks hit fresh 52-week highs on the
BSE including L&T, HDFC Bank, HUL, L&T Infotech, TVS Motor,
Voltas, Ion Exchange, ICICI Bank, Eveready Industries, and KEC
International.
Bank Nifty Outlook:
Latest
FOMC minutes highlighted that policymakers at US Federal Reserve agreed
that they should hold off on raising interest rates until it was clear
that a recent US economic slowdown was temporary. On the options front,
for the June series maximum Put OI was seen at strike prices 9,000
followed by 9,300 and 9,400 while maximum Call OI is at 9600 strike. The
market rebounded from previous days fall as FOMC minutes shared its
concern over the hike in US rate in the future due to a slowdown in
economic growth, which is positive for EMs. While short covering ahead
expiry and appreciation in INR added impetus to the rally.
Nifty Trends
|
| R1 | 9556 |
| R2 | 9600 |
| S1 | 9470 |
| S2 | 9400 |
|
|
Technical Outlook:
Top Gainers
|
| LT | 1,765.00 |
| BANKBARODA | 181.60 |
| ICICIBANK | 316.85 |
| INDUSINDBK | 1,459.45 |
| ACC | 1,633.00 |
Top Losers
|
| LUPIN | 1,140.00 |
| DRREDDY | 2,423.00 |
| CIPLA | 504.70 |
| SUNPHARMA | 595.00 |
| ULTRACEMCO | 4,152.00 |
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