Market Recap 15 Jun 2021
Today, after markets opened with a gap-up it moved in a sideways manner. Market breadth was balanced, with 25 of Nifty50 stocks ending in the green.
Among the sectoral indices, Nifty Media (2.0 %) and Realty (1.3%) were the top gainers whereas Pharma (-0.8%) and PSU Bank (-0.2%) were the top losers.
Asian Markets except for Hang Seng ended in green. European market is currently trading in green. US markets are currently negative. The US Fed is expected to announce its interest rate decision on Wednesday and volatility is expected to be high until then. And we saw the indecision in the market today. Expect more indecision till the announcement and its impact on the market expiry on 17th June 2021.
Kindly study SGX NIFTY and US markets before making any trading decisions on WEDNESDAY. Currently both are falling.
As predicted on Monday evening, Nifty and BN found it difficult to sustain above 15800 and 35000, respectively.
We can still see in the option chain still reflects high call writing @ 15900 and 35300 in Nifty & Bank Nifty, respectively. I conclude that breaking these levels and sustaining above it will be difficult for market indices.
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