In the backdrop of the US inflation data which gives direction to the US Fed policy and the European central banks meeting all the world markets are in the wait and watch mood.
Indian markets following the same. Yesterday we saw a very narrow range movement till the third session. We witness a sudden fall due to a lack of buying interest.
Nifty50 was closed at 15635 down 105 points. BSE Sensex was closed 334 points down at 51941 on 9th June.
From provisional data available on the NSE, Foreign institutional investors (FIIs) sold Rs. 846.37 cr worth of shares in cash and Domestic Institutional Investors (DIIs) sold shares worth Rs 271.70 cr in the cash market on 9th June 2021.
The US markets were opened green but lost all the gain in at the end and closed in red. European markets also closed in red.
But Asian markets are showing strength opposite to their western peer and trading in green. SGX Nifty indicating flat to positive opening today on 10th of June.
Last close of Nifty fut at 15668. 15830 – 15870 is a strong resistance zone, below 15730 we only think to sell. As we already told in our daily series Kal Ki Baat Aaj the important support for the Nifty around 15370 – 15270 on the lower side, near these levels we will buy in tons.
Last close of Banknifty fut at 34935. After continuous 2 days fall on Banknifty we are expecting a bounce back from here. The good support on Banknifty is around 34356 – 33870, near this range we will buy only. With a small resistance at 35335 above this level, we will buy more.