NSE NIFTY (5,485.80)

The NIFTY opened the session on a flat note and remained range bound for the initial hours of the day’s trade.

Thereafter, selling pressure amongst key index heavyweights like DLF, L&T, SAIL and Tata Steel dragged the NIFTY below the early morning range and the index registered an intraday low of 5,457.45 levels.

The NIFTY finally closed the session at the 5,485.80 levels with a loss of
35.25 points.

The NIFTY closed the final session of the week’s trade on a negative note. The cut witnessed during the previous session of trade has dragged the NIFTY towards the lower end of the broad trading range of 5450—5600 levels.

The 5430—5450 zones will be the near term support for the NIFTY.
On the upside we expect the levels of 5575--5600 levels to act as stiff resistance zones.

A rally towards the 5700—5750 levels can be seen only if the NIFTY registers a close above the 5600 levels.

Conversely if NIFTY fails to take support between the 5450-5430 levels and starts to trade below the same, we would recommend a negative bias once again with possible targets
of 5300 – 5250 levels.

We booked full profits on our intraday long call given NIFTY June Spot @ 5540 levels. (Initiated @5514 levels).

The recommendation fetched a fabulous intraday gain of Rs 13000/- (assuming 500 quantity traded) to the subscribers of our product NIFTY calls section.

We recommend subscribing to our product NIFTY Calls section to avail such profitable NIFTY calls.