Global Markets

US stock markets closed in the red (Dow Jones -245)

Dow futures are now trading flat

The Asian markets are trading in a choppy manner

Nifty: -10 points on the SGX

Data Analysis

Cash Market                                      F&O

FII : –1942cr                                                        Nifty PCR: 1.16 vs 0.98

DII : +1972cr                                                      Highest OI (22-June-23):

Net : +30cr                                                          19000CE & 18700PE

Technical Outlook

Nifty (Spot)

• The Nifty is probably going to surpass its record high of 18888.
• However, there may be some profit booking in the range of 18900 to 19000.
• The immediate demand range of 18770–18700 is the only one below which we may anticipate weakness.

Bank Nifty (Spot)

• Banknifty nicely respected its 50-DMA; yet, the area between 44000 and 44200 is a crucial supply zone.
• We can see a short-covering surge above 44200.
• On the downside, a demand zone is located between 43500 and 43300.