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Sustenance Below 69.40, Rupee May Appreciate Further Till 69 Marks. Resistance Is Seen at 69.90

The document summarizes the performance of Indian indices on 07.06.2019. It notes that the Nifty is trading negatively below resistance at 11,870 and support at 11,770. It predicts the Nifty could rise towards 12,130-12,180 if it sustains above resistance. Bank Nifty is also trading negatively below support at 30,600-30,400. USD/INR futures are trading positively below resistance at 69.90. Most indices are trading in red except for REALTY and PSU BANK, which are bullish, while PHARMA is bearish.

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33 views1 page

Sustenance Below 69.40, Rupee May Appreciate Further Till 69 Marks. Resistance Is Seen at 69.90

The document summarizes the performance of Indian indices on 07.06.2019. It notes that the Nifty is trading negatively below resistance at 11,870 and support at 11,770. It predicts the Nifty could rise towards 12,130-12,180 if it sustains above resistance. Bank Nifty is also trading negatively below support at 30,600-30,400. USD/INR futures are trading positively below resistance at 69.90. Most indices are trading in red except for REALTY and PSU BANK, which are bullish, while PHARMA is bearish.

Uploaded by

nabamita pyne
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Overview on 07.06.2019: Indian Indices are trading with negative bias.

Nifty support at 11,770 & resistance


at 11,870 zones.

Nifty is trading negative at 11,813 (-0.25%). If Nifty crosses and sustains above 11,870, it would see
further buying, which could lead the index towards 12,130-12,180. Supports at 10770 – 10670 zones. Long
term trend remains bullish and should be traded with buy-on-decline sentiment.

Bank-Nifty is trading negative at 30,766 (-0.3%). Support zone at 30,600 – 30,400 should attract short
covering. Continued bullish on strength above 30,550 targeting 32,600. Trend remains bullish and should be
traded with buy-on-decline sentiment.

USD/INR FUT (June) is trading positive at 69.37 (-0.06%). Sustenance below 69.40, Rupee may appreciate
further till 69 marks. Resistance is seen at 69.90.

Apart from REALTY & PSU BANK; all other indices are trading in red. Bullish on FMCG & PSUBANK. Bearish on
PHARMA.

Economic Events
Time Cur. Event Forecast Previous
Holiday CNY China - Tuen Ng Day
43 min JPY Leading Index 96.1 95.9
17:00 INR Bank Loan Growth 13.00%
17:00 INR Deposit Growth 10.40%
17:00 INR FX Reserves, USD 419.99B
18:00 USD Manufacturing Payrolls (May) 5K 4K
18:00 USD Nonfarm Payrolls (May) 185K 263K
18:00 USD Unemployment Rate (May) 3.60% 3.60%

Running Calls:
Descriptions CMP
(Positional): CADILAH bearish at CMP 242/- SL above 248/- TGT 230/-. 243
(Positional): SUNPHARMA bearish below 406/- SL above 415/- TGT 386/-. 397
(Positional): HAVELLS bullish at CMP 770/- SL below 757/- TGT 796/-. 781
(Positional): RECLTD looks good CMP 149.50 till 158. Stop Loss Below 145.50 150
(Positional): INFY looks good CMP 744 till 775. Stop Loss Below 728 738

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