Market View: 25-29 JUN 2018

Filed in Market Update by on June 25, 2018

 

Week Market View: 25-29 JUN 2018
View Last week the NIFTY closed at 10822 showing the same close as last time. The markets have been in consolidation for quite a while now without any clear direction. There comes in support at lower ends and there has been profit booking and resistance at higher levels. The NIFTY daily chart is suggesting a bullish bias on the NIFTY as it shows a bullish engulfing pattern, but we will still have to wait and watch if a similar bias is also observed on the weekly charts. That would confirm the bullish trend especially if we get a share breakout above 10,850. This week we expect the markets to be volatile on account of June derivative expiry. Let’s wait and watch. Be patient and disciplined with all the existing positions. All the best!

Comments are closed.