- Nifty fut continue to trade lower for the third week and formed bearish hammer to settle at 11753.45.
- Moody’s ups outlook on Adani Transmission to stable from negative.
- Cadila Healthcare gets EIR from USFDA: The Company’s formulations manufacturing facility located at SEZ.
- Berger Paints’ independent director Dhirendra Swarup resigned w.e.f. Jun 13, 2019.
- DHFL makes interest payment worth Rs5cr with the payment due on 17 June.
- Jet Airways lenders will take the company to NCLT and will seek resolution under the Insolvency and Bankruptcy Code.
- V-Mart Retail has opened two new stores one in the state of Bihar and one in the state of Madhya Pradesh.
- Rajesh Exports has bagged a prestigious order worth Rs 942 crore of designer range of jewellery from Germany.
- The construction arm of L&T has secured orders from prestigious clients in Sri Lanka and from within India.
Weekly Market View
The Nifty 50 started the week wih negative sentiments and throughout the week traded with mixed sentiments.The market remained volatile throughout the week amid dovish commentary from US Federal Reserve as well as European Central bank (ECB). However, trade war concerns, rise in crude oil prices, delay in monsoon and a fall in foreign investor flows capped the upside.Immediate support mark is 11600 and immediate resistance mark is 11865.
Weekly Nifty Bank View
Bank Nifty managed to hold its crucial support of 30,200-30,250 and witnessed strong buying interest towards 30,830.The index closed at 30628.35.Bank Nifty future added short positions as open interest soared higher along with a fall in the underlying price. If it holds above 30,600, it could extend its gains towards 31,000, then 31,313; while on the downside, supports are seen at 30,500, then 30,250.
Global Markets Update
Global markets remained mixed as market focus is largely attuned to simmering geopolitical tensions between the US and Iran. Iran reportedly shot down a US military drone and escalated the volatile situation between Washington and Tehran.US DJIA and NASDAQ ended at 26753.17 and 8051.34 respectively. Asian peers also remained in buy mode and ended higher with Nikkei 225 closing at 21243.71 and China shanghai composite at 3001.98.
(Click to submit your details) Just one step to get best trading tips and Recommendation.