Market Outlook June: Going ahead, Indian equity markets mood are expected to remain upbeat as investors continued hunt for fundamentally strong stocks. The month of June will see the Reserve Bank of India, the US Federal Reserve, and the Bank of England details their respective monetary policies, while the meeting of the Organization of the Petroleum Exporting Countries (OPEC) will also grab investors' attention. The US-North Korea summit and developments on international trade front will also keep investors on the edge this month. The RBI's Monetary Policy Committee (MPC) will meet on 6th June 2018 for the second bi-monthly monetary policy for FY19. Further, progress of monsoon, trends in global markets, macroeconomic data, FIIs and DIIs trend, bond yield, rupee-dollar movement and crude oil prices are the key factors which will be monitored keenly.
In this issue:
- Movers & Shakers
- Market Outlook
- Nifty Technical Outlook
- Auto Sales
- Commodity Pick
- Mutual Fund
- Key Financial Events
- Investor Awareness Seminar Pics
Nifty Technical Outlook June: On the monthly chart we are observing a high wave Doji candle which suggests that markets are circumspect at current levels. In current month Nifty has resistance at 10985 – 11134 – 11308 levels whereas on the downside, 10487 – 10337 – 10164 levels. In coming month if Nifty trades above 10836 then it is likely to test 10985 – 11134 – 11308levels. However, if Nifty trades below 10636 then it is likely to test 10487 – 10337 – 10164 levels.
Broadly, we are of the opinion that the monthly bias is positive. However, the monthly trend would turn up if Nifty trades and close above 10985 levels. On the downside 10487 remains crucial support for this month. Hence, if Nifty manages to trade above the mentioned support level then there is possibility that Nifty may test 10985 – 11134 – 11308 levels. Hence, on should adopt cautious positive approach towards the markets.
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