Nifty 8203/Sensex 26765/Bank Nifty 17626
21 Advances/30 Declines/0 Unchanged
“Sensex, Nifty end lower ahead of Brexit vote; Tata Motors loses”
“S&P BSE Auto, S&P BSE Small Cap, S&P BSE capital Goods, S&P BSE FMCG, among Dragging Sectors….and S&P BSE Healthcare, S&P BSE Metal, S&P BSE PSU among gaining sector”
Nifty 50 showed a sluggish opening at the morning session among news of BREXIT and looked flat at the opening session as investors were cautious about the impact of BREXIT and its impact on domestic and global markets and hence we saw Nifty 50 open lower at 8214 and made low of 8153 and finally closed the session at 8204 and shredded 16 points or decrease of 0.20% to the index.
Nifty 50 struggled in the latter half of the session as we saw counters like Tata Motors , Tata Steel , Hindalco and other counters saw some selling pressure as these stock as will be affected by BREXIT and this weighted negatively on the index.
Key highlights of 22th June 2016
Government aims to make 6 big PSU banks out of 26: media report.
Patanjali pulling biz from other competitiors, not us: Dabur CEO.
Piping hot! Tata Coffee rises 9% as coffee price at 13-month high.
Thomas Cook arm Quess Corp's Rs 400 cr IPO to open on June 29.
Near-term Fed hike unlikely, Hilary Clinton better for India.
Deutsche initiates buy on Aurobindo Pharma, see faster USFDA approvals.
Max Ventures at 5% upper circuit post open offer on debut day.
Sun TV to bid in phase-III radio auctions, widen footprint.
Tech Mahindra buys UK's BIO Agency in all-cash deal.
Shortfall in solar RPO compliance a challenge: ICRA.
PepsiCo's bottling franchise Varun Beverages files IPO papers.
NTPC: Updates on offer for sale of shares by Government of India.
China's 2-week shutdown will help Indian cos: Aarti Ind.
Motherson Sumi plans mega overhaul, to merge group cos with self .
Nifty seen at 8500 if Brexit doesn't happen: Citrus Advisors .
Stay' UK vote will help Nifty cross 8,250 barrier: Analysts .
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Now what next??
NIFTY FUTURES: Nifty 50 Futures was in same trajectory to spot nifty and traded with great volatility among global impending event like BREXIT voting on 23rd June as investors were hawkish on carrying their position forward in uncertain market and undecided on its impact on domestic and global markets and hence Nifty 50 futures opened flat at 8212 and from there tried to hold 8200 by making high of 8250 and eventually cracked in final trading session as panic dominated the session and made low of 8152 before closing at 8207 and tried to hold 8200 on closing basis by shredding 15 points or decrease of 0.18% to the index.
Nifty 50 futures settled at premium of 3 to Spot nifty and this show that Nifty 50 futures is positional strong on closing basis with respect to spot nifty.
Nifty futures is settled at 8207.
It is showing near term crucial resistance at 8250. If this level is breached and sustained positively then we may see resistance building at 8290---8320.
It has a near term support intact at 8180. If this level is not sustained then we may see some panic .Next support around 8120---8080.
BANK NIFTY: Bank Nifty futures traded with immense volatility today on expected note as investors were hawkish on carrying their position forward in uncertain market as investors are undecided of the impact on domestic and global markets looking at the BREXIT voting ahead .Bank Nifty opened weak at 17611 and then retraced itself to make high of 17755 and again cracked to make a low of 17503 before finally closing the volatile session at 17596 and therefore shredded 27 points or loss of 0.15% to the index.
Currently Bank Nifty at 17596 has crucial resistance at 17700--17780.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 17535--17500.If this level is breached there can be panic and weakness as next support building below 17400.
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