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Nifty Daily Chart - EoD 14-Jun-24

Market Overview – Last Week

Weekly :
Volatility: Low
Trend: Bullish
Momentum: Moderate

Price: Above Base Line and Ichimoku Cloud
Trend: Bullish
Momentum: Moderate

Sectors OutPerformed Nifty 50:
– Auto
– Energy
– Pharma
– Media
– Realty
– Infrastructure

Sectors UnderPerformed Nifty 50:
– IT
– Metal
– Finance
– BankNifty

Nifty Future: Long Buildup
IV & HV: IV Less than HV (12.82 < 30.49) IV decreased from 16.88 last week
Support Level (OI): 23000 (no change since last week)
Resistance Level (OI): 24000 (no change since last week)
Put-Call Ratio: 1.31 (increased from 1.1 last week)
Option Pain: 23400 (increased from 23000 last week)

Cash Market Data:
FII – Net Buyer 2,031 Cr. (Net Buyer last week 13,718 Cr)
DII – Net Buyer 6,293 Cr. (Net Buyer last week 5,578 Cr)

Future Market Data:
FII – Net Buyer 10,311 Cr. (Net Buyer last week 7,703 Cr)


1. Nifty Future: Long Buildup along with PCR at 1.31 increased from 1.1 last week. Gives an indication of bullish move
2. BankNifty Future: Long Buildup, indication of bullish move, PCR at 0.94 increased from 0.73 last week. Price is above Baseline & cloud but with a doji (indecision)
3. Nifty chart showing a pause, last Resistance broken around 23350
4. FII are net Buyer in both Cash and in Future. DII are net Buyer in Cash segment. Overall bullish bias
5. Nifty PCR (Put-Call Ratio) is 1.31 increased since last week to confirm bullish bias


1. Nifty is at all time high with moderate momentum. Immediate resistance is around 24000 as per Open Interest. May remain in range of (23000-24000) level. Better to avoid any directional trade in short term
2. BankNifty bullish bias, momentum is moderate. Immediate resistance at around 51000. May remain in range (50000-51000). PCR at 0.94, increased from 0.73 last week. Better to avoid directional trade in short term until any confirmation is seen

Outlook & Strategy for the Week [ 10-Jun-24 to 14-Jun-24 ]

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