Quote from Admin on June 13, 2023, 6:08 am

🟢 PRE-MARKET ANALYSIS (13/06/2023)

INDEX ACTION

Nifty: The index is trading choppy due to multiple hurdles on each side caused by the rangebound market lately.

For intraday, 18640 will be the breakout and 18580 will be the breakdown level. Make sure to wait to check the sustainability of the price beyond these levels.

Positional shorts need not cover until the 18700 level is breached decisively and sustained. A sharp move on the upside can be expected only above 18700. On the downside 18500 level needs to be watched.

Max Open Interest:
Calls: 18600 - 18700
Puts: 18600 - 18500

PCR: 0.73

Daily Expected Range (Accuracy 75%*): 18,359 - 18,843

Daily Pivot Support: 18,563 - 18,525
Daily Pivot Resistance: 18,637 - 18,672

Weekly Pivot Support: 18,471- 18,378
Weekly Pivot Resistance: 18,717 - 18,871
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Bank Nifty: The index has multiple hurdles on both sides which is creating a high volatility and choppiness in the index.

For intraday, one can trade a range-breakout strategy in the index. Yesterday’s range can be marked somewhere between 43910 to 44060. Wherever the 15-minute candle gives a closing, one can trade for that particular direction.

Max Open Interest:
Calls: 44000
Puts: 44000

PCR: 0.70

Daily Expected Range (Accuracy 75%*): 43,175 - 44,713

Daily Pivot Support: 43,837 - 43,730
Daily Pivot Resistance: 44,088 - 44,232

Weekly Pivot Support: 43,785 - 43,581
Weekly Pivot Resistance: 44,326 - 44,663
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GLOBAL MARKETS

US market closing

Dow Jones: 🟢 0.56%
Nasdaq: 🟢 1.53%
S&P 500: 🟢 0.93%

European markets closing

Euro Stoxx 50: 🟢 0.62%
Britain’s FTSE: 🟢 0.11%
Germany’s DAX: 🟢 0.93%
France’s CAC: 🟢 0.52%

The Australian stock market is currently trading with a gain of 0.03%

Asian markets live (noted at 7.00 am)

Japan’s Nikkei: 🟢 1.50%
Korea’s KOSPI: 🟢 0.41%
China’s SSE: 🔴0.12%
Hong Kong’s Hang Seng: 🔴0.33%
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SGX Nifty is trading at 18731, gaining about 33 points from yesterday’s closing. Of this, one can expect the Indian market to open flat-to-gap up.
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STOCK ACTION:

Long Build Up
DELTACORP, MANAPPURAM, DIXON, IPCALAB, HINDPETRO

Short Build Up
SRF, NAVINFLUOR, ASTRAL, WIPRO, INDIGO

For Information Only