Nifty 8088/Sensex 26397/Bank Nifty 17426
6 Advances/ 45 Declines/0 Unchanged
“Sensex off day's low, down 600pts on Brexit; Nifty reclaims 8100 on closing”
“Blood Bath was the theme of the day as BREXIT triggered global panic and all sectors were among draggers”
“UK PM David Cameron to step down, handover due October”
Today Nifty showed a highly volatile session as bloodbath was the theme of the day all over the world as BREXIT today was reality as referendum of 51%—49% sealed the deal and created history as Britain becomes first country to leave European Union. Nifty 50 opened lower at the opening session as news were coming from Europe as it opened almost 3.5% lower at 8029 and cracked to make a low of 7927 and then as investors started entering at lower level assuming an attractive buying for long term and hence we saw a pullback to make high of 8101 and tried to sustain it and hence closed a highly volatile session at 8089 and shredded 182 points or lost 2.20% to the index.
Key highlights of 24th June 2016
RBI always ready to act when markets misbehave, says Rajan.
India insulated from Brexit but IT, auto may get hit: Geosphere.
Tata Motors tanks 15% as Brexit shock raises UK biz concerns.
Gold ETF surges 2-7% on demand for safe-haven metal post Brexit.
It is a good chance to buy for investors: ICICI Prudential AMC.
India strong enough to overcome Brexit fallout:Industry bodies.
Kerala govt to create 25 lakh jobs.
EM investors to take wait & see approach in short- term: Freeman.
Boris Johnson is bookmaker's favourite to succeed Cameron.
Brexit impact on India to be minimal; buy on dips: IIFL.
If currencies are rattled, India could be hit: Macquarie .
Moody's sees a prolonged period of uncertainty over BREXIT.
Now what to expect today?
NIFTY FUTURES: Nifty Futures was in same trajectory to spot nifty and traded with great volatility as BREXIT was made a reality and as it was sealed by 51%-49% voting and hence this created bloodbath at the opening session of Nifty 50 futures as it opened lower at 8029 and from there cracked to make low of 7923 as negative sentiments were created all over the world and domestic market and hence closes a bearish session at 8075 and shredded 214 points or decrease of 2.58% to the index.
Nifty futures settled at 8075.
It is showing near term immediate crucial resistance at 8100—8160. If this level is breached and sustained positively then we may see resistance building at 8200--8230 else itcould test its support level of 8000---7930 again. More and more panic will see only close below 7900 mark.
BANK NIFTY: Bank Nifty futures traded with immense volatility and bloodbath was the theme of the day as bank nifty on news of BREXIT opened weak and lower at 17300 and from there cracked as BREXIT was made reality to make a low of 16911 and showed some respite to show pullback to make high of 17428 before closing the session at 17366 and therefore shredded 524 points or cracked almost 3% for the session.
Currently Bank Nifty at 17366 has immediate crucial resistance at 17600--17770.If this level is breached in coming sessions and sustained then one may see next resistance building around 17940--18030.
It also has a near term crucial support 17290--17200.If this level is breached there can be panic and weakness as next support building below 17000--16700.
Today’s Top Pick
We will update during market hours. Today we will expect high volatility in the market.
More will update soon!!
