Share Market Today - 7th June 2019


Share Market Today 7th June 2019 NIFTY Daily Chart

The benchmark indices plunged around 1.5% during yesterday’s session marking it a most severe fall of 2019. The sentiments were dampened post RBI’s monetary policy in which the central bank cut repo rate by 25 bps and changed the policy stance to accommodative from neutral. The index Nifty spot lost around 180 points to close below 11850 mark. Meanwhile, the Nifty bank index collapsed more than 700 points to settle below 31K.

The markets breadth remained extremely weak right from the beginning of the session. On the sectoral front, none of the group indices ended in positive terrain. From the losers, the NIFTY PSU BANK (-4.90%) and NIFTY BANK (-2.32%) counters were the worst performers. From the F&O space, COALINDIA (+2.47%), BERGERPAINT (+1.57%) and PFC (+1.57%) were the leaders.


Post yesterday’s fall it is evident that the index has been facing selling pressure every time it clears the 12K mark. Now at this juncture, Nifty is hovering just above the decisive support of 11830. Going ahead, short term traders are advised to exit their longs below 11830 for the time being. Meanwhile, the positional bets can be held till the time Nifty traders above 11500 mark.
On the upside, 11920 might act as an intermediate resistance for the coming session. A move above the same might bring the momentum back in the favor of bulls.


Share Market Today 7th June 2019 Bajaj Fin



  • The daily chart depicts that the stock is finding it difficult to clear the hurdle created by the rising line.
  • The recent price action displays a negative candlestick setup (an Evening Star).
  • Previously in Aug 2018 we witnessed heavy profit booking in the stock with similar kind of setup.
  • Thus we advise traders to go short in the stock between 8150 - 8250 for the target of 7700 with a stop of 8450.


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Share Market Today - 4th June 2019

NIFTY DAILY CHARTFinally we witnessed a much expected trending move in the domestic markets during yesterday’s session. The week kicked on an optimistic note for the benchmark indices despite weak global cues. Then after the index Nifty kept on gaining strength to close the session with a mammoth gain of more than 160 points. We have been mentioning about the upside target of 12200 and yesterday the index reached 12100 mark. Meanwhile, the Nifty Bank index too surged around 300 points. The markets breadth remained a bit neutral with an inclination towards declining counters which reflects major buying in index heavyweights. On the sectoral front, apart from NIFTY MEDIA (-0.27%) all the other group indices ended in green. From the gainers, the NIFTY AUTO (+1.87%) and NIFTY FMCG (1.43%) counters remained top performers. From the F&O space, APOLLOHOSP (+9.81%), PAGEIND (+6.29%) and HEROMOTOCO (+6.01%) were the leaders. OUTLOOK At this juncture, we maintain our bullish stance that the possibility of 12200 – 12400 levels is high. The only deference is that the traders holding long positions should now shift there stops towards the Friday’s low of 11829. A move below the same might halt the momentum for the time being. In addition, we expect fresh round of buying interest in MIDCAP and SMALLCAP stocks. Hence, the traders are advised to use dips for buying individual stocks. RAYMOND : BULLISH OUTLOOK Since past few months, the stock has been consolidating in a broad range of 850 - 760. During the recent sessions, we witnessed a clear breakout on the daily chart. Along with the range breakout, there is trend line breakout too as displayed in the chart. Thus we advise traders to go long in the stock between 840 -820 for the upside target of 920 with a stop of 790. Disclaimer)

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Share Market Today - 13th June 2019

NIFTY DAILY CHARTThe domestic markets ended its three days winning streak during yesterday’s session following the mixed global cues. The index Nifty spot stared the session with a downside gap and tumbled as the day progress to loose around 100 points from previous close. However, a partial recovery during the second half helped the index to close with a loss of around 50 odd points. On the other hand, NIFTY BANK index remained under pressure and lost around 300 points. Right from the beginning, the market breadth remained in the favour of declining counters. On the sectoral front, apart from NIFTY METAL (+0.39%) and NIFTY FMCG (+0.22%) all the other group indices failed to close in green. From the losers, NIFTY REALTY (-2.05%) and NIFTY AUTO (-1.13%) pack were the biggest laggards. OUTLOOK After three consecutive narrow range bodies on the daily chart of Nifty spot; we are now witnessing a decisive candlestick but in red. Thus yesterday’s low of 11866 would now act as an initial trigger on the downside. A move below the same might result in some profit booking in the coming session. However, the overall structure remains strong till the time Nifty trades above 11750 mark. On the upside, 11925 – 11965 level is likely to act as intermediate resistance. Aggressive buying can happen only above 12000 mark. Disclaimer)

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