Indian Indices
Global Indices
Commodity (SPOT)
Currency (SPOT)
05 Dec 2016 | 3:21 PM
Research Report
Monthly

Equity Research Report: Market Explorer - June 2015

Global cues are playing an important role and participants are eagerly awaiting the outcome of next US Fed policy meet which is going to be held on 16-17 June 2015. An indication of interest rate hike by Fed will create a big pressure on domestic markets. The progress of monsoon is also playing a major role at this juncture. The India Meteorological Department, in its second forecast for 2015, cut to 88% of normal its estimate for this year's monsoon rains, from a previous estimate of 93%.
05 Jun 2015 | 03:35 PM

Amid volatility, Nifty managed to end the passing month with gains and reclaimed psychological mark of 8400.


Initially, it upheld negative bias and slipped below the psychological mark of 8000 as it breached support zone of long term average of 200 EMA on the daily chart. But, existence of support and oversold position triggered gradually recovery from thereon, which aided index end in green. 

Despite last month’s rebound in index, we reiterate our negative view on Nifty for June month as it failed to   decisively close above the resistance hurdle of 8500. Though we have psychological support at 8000 but   major downside cushion exists around 7850. So, traders are advised to be with the market trend and prefer counters from Metal, Realty and PSU banks space for short trades.

 

Regenerate OTP
Thank You for your interest in Religare Online. Our Representative will get in touch with you shortly.