Kal Ki Baat Aaj, Important Levels and Technical Analysis of Nifty BankNifty For 11th June

Kal Ki Baat Aaj, Important Levels and Technical Analysis of Nifty BankNifty For 11th June

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Indian equity markets yesterday witnessed one rare moment on expiry day in recent time. The market seems not ready to back down and tried to recover from Wednesday a small sudden fall. Nifty  50 formed an inside bar on the daily chart which is still a sign of worry.

Nifty50 closed at 15737, which is 102 points from the previous close. BSE Sensex was closed  0.69 percent higher at 52,300 on 10th June.

From provisional data available on the NSE, Foreign institutional investors (FIIs)  keep buying and they net brought Rs. 1320.7 cr worth of shares in cash while Domestic Institutional Investors (DIIs) sold shares worth Rs 575.19 cr in the cash market on 10th June 2021.

After the US inflation and jobless claim data, which minimise the Fed bond tempering fear the US markets. The US markets bounced back and closed in green yesterday. European markets were still in confusion.

Asian markets showing mixed signals. SGX NIFTY indicating a cautious opening of the Indian Market as SGX NIFTY is almost flat.

Kal Ki Baat Aaj King Research:

Nifty made an inside bar after a bearish candle at the top. Last close of Nifty fut at 15753.  We never change levels daily so the Laxman Rekha is the same at 15830, if Nifty sustains above this level we saw further rally till 15970 to 16147. As we already told in our daily series Kal Ki Baat Aaj the important support for the Nifty around 15630 – 15570 still intact and act as support on the lower side.

Last close of Banknifty fut at 35300. Above 35356 we may see the unexpected levels up to 37147 – 37770. The key support still intact at 34870 – 34670.

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