POST MARKET REVIEW -
Open your Zerodha Demat account here,
Markets to open higher today after fears over the US Federal Reserve’s rate hikes were put to ease. Fed Chairman Jerome Powell said that there would be no rate hikes until the economy showed solid signs of recovery.
Powell said We will not raise interest rates pre-emptively because we fear the possible onset of inflation.
We will wait for evidence of actual inflation or other imbalances,” said Powell before a US House of Representatives panel.
POST-MARKET REVIEWS -
NIFTY -
1) Today had a positive gap up opening, due to global positive cues, but the market could not sustain higher levels on openings.
2) Today NIFTY had a positive opening based on global cues. On the statement of Fed Chairman Jerome Powell.
3) NIFTY opened gap up @ 15862 levels.
4) NIFTY made a day's low bottom @ 15726 levels & recovery was done with good price action in 1st half trading session.
5) HINDALCO a COMMODITY SECTOR stock rallied above 1% on the upside.
6) ADANI PORTS & ADANI GROUPS we're negative on again allegations.
7) Today AUTO SECTOR was in a range bound, MARUTI / HERO MOTO / TVS MOTORS we're on the upside.
8) The ENERGY SECTOR had a profit booking.
9) The EMAMI LTD stock from FMCG SECTOR rallied above 3% on the upside.
10) The INFRA SECTOR profit booking was seen.
11) Today IT SECTOR looked weak & selling pressure was seen.
12) The METAL SECTOR was trading in a range-bound.
13) PHARMA SECTOR has corrected & is @ oversold zone.
14) NIFTY made a day high @ 15862 levels, in 2nd session made days low @ 15673 levels & closed to hold below 15700 levels.
15) NIFTY was rejected @ 15780 levels multiple times today. on expiry play 15780 play very important role.
16) NIFTY is preparing for bigger moves & tomorrow 24th Monthly expiry. Should wait for & watch what turns the market.
17) The market is waiting for the RELIANCE AGM meeting held on 24th June, this meet may turn around market sentiments.
BANK NIFTY -
1) BANK NIFTY had a gap up opening @ 34911 levels.
2) BANK NIFTY made a bottom low @ 34535 levels.
3) BANK NIFTY made an intraday high @ 34937 levels in the openings.
4) All private banks looked weak today.
5) PSU SECTOR made a good rally above 1%, this managed BANK NIFTY to be stable today.
6) PNB / UCO BANK / IOB rallied above 3% & SBI holds on the upside today.
7) FINANCIAL SECTOR was range-bound.
8) BAJAJ FINSERV & BAJAJ HOLDING had an upside move above 2% on the upside.
9) KOTAK BANK & HDFC LTD looked weak today.
10) BANK NIFTY holds to close above 34500 levels.
11) Tomorrow 24th June has a monthly expiry, which might create volatility in BANK NIFTY.
🚧 CAUTION ON CLOSING BASIS 🚧
NIFTY -
15725 ke uppar hum uppar, 15700 ke neeche hum neeche.
BANK NIFTY -
35200 KE UPPAR HUM UPPAR, 34800 KE NEECHE HUM NEECHE.🙏
Stay tuned on Blogs,
For upcoming Intraday levels for 24th June.
-REGARDS-
Kirthee Bane
