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πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.62% 🟩 πŸ”— Nifty stayed in an uptrend and continued its HLHH s
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.62% 🟩 πŸ”— Nifty stayed in an uptrend and continued its HLHH structure for the third consecutive day, ultimately forming a  πŸ”— Market breadth remained slightly negative with IndiaVIX at 14 πŸ”— As of now, Majority of the global indices closed in negative territoryπŸ”» πŸ”— FIIs sold 3,535cr and DIIs bought 5,104cr in the equity market πŸ”» πŸ“° NEWS: πŸ”— India has potential for 5X data centre capacity expansion to fuel digital transformation: Report πŸ”— Rainfall down 33% from normal in 16 states and UTs πŸ”— China’s AI strength suggests US curbs could backfire πŸ”— Economic growth momentum stays the course to reach 7.5% in FY25: NCAER πŸ”— US new home sales slump; supply at more than 16-year high πŸ”— Oil prices slide on fears of slow US demand after surprise inventory build
πŸ”— Important events for today: US GDP, Initial Jobless Claims and Durable Goods Order
πŸ“ˆTECHNICAL VIEW: πŸ”— Recent movement of the index is hallow as the majority of the trend is only supported by sectoral rotation and not the whole market. So stay vigilant and remember that the VIX is 14 which means the market can trend up to 0.8% in either direction so keep appropriate stop losses πŸ”— The immediate support is placed at 23,775 followed by high volume node at 22,680; resistance is going to be 23,900 followed by 24,000 due to high call writings.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Nifty gained +0.78% 🟩 πŸ”— Nifty opened with a gap up and broke above the PowerPivot lev
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Nifty gained +0.78% 🟩 πŸ”— Nifty opened with a gap up and broke above the PowerPivot level and started a strong upward rally throughout the day, ultimately forming a strong bullish candle on the daily charts. πŸ”— Market breadth stayed in the favor of bears with IndiaVIX at 14.3 level πŸ”— As of now, Majority of the global indices are trading in a negative territory πŸ”» πŸ”— FIIs bought 1,175cr and DIIs sold 149cr in the equity market 🟩 πŸ“° NEWS: πŸ”— RBI governor Shaktikanta Das confident of 7.2% GDP growth in FY25 πŸ”— 5G spectrum auctions: Govt gets bids worth around Rs 11,000 crore on day 1 πŸ”— India’s external debt ratio falls to 13-year low of 18.7% in FY24 πŸ”— US crude stockpiles expected to rise - Macquarie πŸ”— Oil prices dip as investors fret over demand outlook πŸ”— US consumer confidence retreats slightly; house prices remain elevated
πŸ”— Important events for today  : Crude Oil Inventories and US New Home Sales
πŸ“ˆTECHNICAL VIEW: πŸ”— Nifty moved upward strongly but the volumes and market breadth did not pick up, this seems like a hollow rally to me and we can expect some temporary fall. Although, I'm not making predictions this seems like a possibility but also remember there has been a huge decrease in 24,000 call OI which indicates Nifty could likely move till there. πŸ”— 22,600 is going to be a strong and crucial support for the market as there is high put OI along with an Order Block that coincides with a VPOC; the resistance is going to be 23,785 followed by the high call OI zone at 22,850

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET : Yesterday Nifty gained +0.16% 🟩 πŸ”— Nifty opened with a gap down but took support from
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET : Yesterday Nifty gained +0.16% 🟩 πŸ”— Nifty opened with a gap down but took support from the discussed level and continued to travel towards the value area, ultimately forming a bullish candlestick on the daily charts πŸ”— Market breadth stayed neutral with IndiaVIX rising by 6% πŸ”— As of now, Global indices are trading in positive territory 🟩 πŸ”— FIIs sold 654cr and DIIs sold 820cr in the equity market πŸ”» πŸ“° NEWS: πŸ”— FOOD SEC SAYS NO PROPOSAL TO REVIEW RESTRICTIONS ON SUGAR EXPORT πŸ”— India's current account deficit narrows to 0.7% of GDP in FY24; Q4 shows 0.6% surplus πŸ”— Oil prices rise on fuel demand expectations, easing US dollar πŸ”— US homebuilders are in urgent need of Fed rate cuts πŸ”— India is engineering a future as AI disrupts the software industry πŸ”— Govt to focus on job creation, farmers’ concerns in first 100 days: S&P Global Market Intelligence πŸ”— Important events for today : CB Consumer Confidence πŸ“ˆTECHNICAL VIEW : πŸ”— Nifty has established a minor change in character. According to PnF charts and volume profiles, if the market holds above 23,570 then it can be a sign of relief for bulls. πŸ”— If Nifty drops to 23,200 then it will establish a double bottom breakdown pattern on PnF charts, which is a bearish territory and hence it can show an easy 300pts fall from there. πŸ”— A temporary support is placed at 23,450 followed by 23,400; resistance is placed at 23,570 followed by 23,700.

πŸ–₯UPCOMING EVENTS : πŸ”— Jun 24: Fed's Waller Speech πŸ”— Jun 25: CB Consumer Confidence πŸ”— Jun 26: New Home Sales πŸ”— Jun 26: Cru
πŸ–₯UPCOMING EVENTS : πŸ”— Jun 24: Fed's Waller Speech πŸ”— Jun 25: CB Consumer Confidence πŸ”— Jun 26: New Home Sales πŸ”— Jun 26: Crude Oil Inventories πŸ”— Jun 27: US GDP πŸ”— Jun 27: Initial Jobless Claims πŸ”— Jun 27: Durable Goods Order πŸ”— Jun 28: US PCE Price Index πŸ”— Jun 28: Fed & RBI's monetary report πŸ”— Jun 28: EU Leaders Summit

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.22% 🟩 πŸ”— Nifty stayed in a sideways trend with high fluctuat
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.22% 🟩 πŸ”— Nifty stayed in a sideways trend with high fluctuations which is normal at all time high levels, ultimately forming a Doji candlestick pattern on the daily charts. πŸ”— Market breadth stayed in the power of bulls with IndiaVIX dropping by 2.6% πŸ”— As of now, Global indices are down except for the EU markets 🟩 πŸ”— FIIs bought 415cr and DIIs sold 326cr in the equity market 🟩 πŸ“° NEWS: πŸ”— Rupee ended at a record low of 83.65/$ against the US Dollar πŸ”— FUEL INCLUSION UNDER GST NOT ON AGENDA FOR JUNE 22 COUNCIL MEET: OFFICIAL πŸ”— FDI inflows decline 43%, India drops to 15 in UNCTAD’s FDI rankings πŸ”— Dollar extends gains against yen with US economic strength in focus πŸ”— Govt weighs interventions to stabilise rising wheat prices πŸ”— Indians' funds in Swiss banks plunge 70% to hit four-year low of Rs 9,771 cr πŸ”— Oil prices slip as rate hike worries come into focus πŸ”— Important events for today: US & India's Manufacturing PMI and India's FX Reserves πŸ“ˆTECHNICAL VIEW: πŸ”— Nifty has formed a pivot high on the daily charts and I believe it will be pulled back into its value area of the past few sessions until it starts to find a new fair value area. It will be obvious when market shows a strong upmove or down move from the VAH or VAL and starts consolidating. πŸ”— Nifty has freshly created a high pole warning pattern on PnF charts which indicates that the trend will soon start to diminish and we will witness a profit booking. πŸ”— 23,400 is going to be an important support as it will establish a change in trend and it is also the low of pivot candle on Jun 19. The resistance is going to be 22,640 Order Block followed by 22,700 high call OI zone.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 0.18% πŸ”» πŸ”— Nifty opened with a gap up above the strong call OI
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 0.18% πŸ”» πŸ”— Nifty opened with a gap up above the strong call OI zone and fell sharply for the first half but recovered most of the losses, ultimately forming a bearish engulfing candle on the daily charts. πŸ”— Market breadth was in the favor of bears with IndiaVIX rising by 6% πŸ”— As of now, Global indices are depicting a mixed trend but the majority are in positive territory 🟩 πŸ”— FIIs bought 7,908cr and DIIs bought 7,108cr in the equity market 🟩 πŸ“° NEWS: πŸ”— COUNCIL UNLIKELY TO REVIEW 28% GST ON ONLINE GAMING: MONEYCONTROL πŸ”— EV Sales are expected to rise by 66%: Exicom's CEO πŸ”— RBI BULLETIN: HEADLINE INFLATION IS GRADUALLY EASING πŸ”— Fertiliser sector poised for bull rally, showing signs of leadership in high beta sectors πŸ”— Foreigners buy $10 billion of index-bound Indian bonds since JPMorgan inclusion announcement πŸ”— Foreign airlines likely to get tax relief on import of services in upcoming GST Council meeting: Official
πŸ”— Important events for today: Initial Jobless Claims & Crude Oil Inventories
πŸ“ˆTECHNICAL VIEW: πŸ”— Nifty has broken the recent value area which is one of the first signs of incoming correction. Now there is a strong value area at 23,400 with high put OI, below this Nifty is expected to establish a change in character. πŸ”— The next resistance is near 23,580 followed by 23,700 (high call OI); the support is going to be 23,400 followed by 23,350.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET : Yesterday Nifty gained +0.39% 🟩 πŸ”— Nifty opened with a big gap up and stayed in a ran
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET : Yesterday Nifty gained +0.39% 🟩 πŸ”— Nifty opened with a big gap up and stayed in a rangebound trend throughout the day, ultimately forming a small Doji candlestick pattern on the daily charts πŸ”— Market breadth remained to stay positive with IndiaVIX still hovering near 13 levels πŸ”— As of now, Majority of the global indices are trading in positive territory 🟩 πŸ”— FIIs bought 2,569cr and DIIs bought 1,556cr in the equity market 🟩 πŸ“° NEWS: πŸ”— Manganese Prices are up 45% in 2024 so far, positive for stocks like SANDUMA πŸ”— Modi government may lower personal tax: Budget expectation πŸ”— Fitch upgrades India's growth forecast to 7.2% for the current fiscal year πŸ”— US markets mixed over weak retail sales data, S&P 500 trades flat-to-positive; GIFT Nifty up πŸ”— Oil ends over 1% higher on elevated geopolitical risk in Europe, Mideast πŸ”— Dollar eases after US retail sales miss expectations in May πŸ”— Israel-Hamas war: Half of armed group's battalions in Rafah defeated, full takeover in weeks, says IDF
πŸ”— Important events for today : UK's CPI
πŸ“ˆTECHNICAL VIEW: πŸ”— The current trend seems to remain bullish as a lot of positive expectations are emerging around the budget but it is advisable to stay vigilant as the RSI divergence and diminishing volumes are signaling a weakening of the trend.  πŸ”— (PnF Chart Analysis): If Nifty closes below 23,500 then it will be one of the first signs of a healthy correction. Below 23,400 Nifty can create a high pole warning pattern on the PnF charts, and below 23,200 it will be a double bottom breakout which will confirm a good correction is incoming.

πŸ–₯UPCOMING EVENTS : πŸ”— Jun 18: Eurozone CPI πŸ”— Jun 18: US Retail Sales πŸ”— Jun 19: UK's CPI πŸ”— Jun 20: Crude Oil Inventories οΏ½
πŸ–₯UPCOMING EVENTS : πŸ”— Jun 18: Eurozone CPI πŸ”— Jun 18: US Retail Sales πŸ”— Jun 19: UK's CPI πŸ”— Jun 20: Crude Oil Inventories πŸ”— Jun 20: Initial Jobless Claims πŸ”— Jun 20: BoE Interest Rate Decision πŸ”— Jun 21: US & India's Manufacturing PMI - Jun 21: India's FX Reserves

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.33% 🟩 πŸ”— Nifty opened with a gap up and continued to stay in
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.33% 🟩 πŸ”— Nifty opened with a gap up and continued to stay in a rangebound trend for the 4th consecutive day, ultimately forming a bearish candle on the daily charts. πŸ”— Market breadth remained positive with IndiaVIX dropping by 6% πŸ”— As of now, Global indices are depicting a weak trend πŸ”» πŸ”— FIIs sold 3,033cr and DIIs sold 554cr in the cash πŸ”» πŸ“° NEWS: πŸ”— Need to moderate rate, widen tax base for Viksit Bharat goal by 2047: Experts πŸ”— Will push for GST reforms, single licensing for traders in Modi 3.0: Praveen Khandelwal πŸ”— GST Council to meet on June 22 πŸ”— Dollar gains on hawkish Fed, even as inflation cools πŸ”— Bank of Japan to keep ultra-low rates, may signal bond taper πŸ”— US weekly jobless claims at 10-month high as labor market eases; inflation cooling πŸ”— US producer prices unexpectedly fall in May πŸ”— US job market resembling pre-pandemic environment, Yellen says
πŸ”— Important events for today : India's WPI Inflation & India's FX Reserves
πŸ“ˆTECHNICAL VIEW: πŸ”— Nifty's consolidation is getting tighter and the Bollinger bands are contracting, signaling an impending big move. The RSI has been flattish in the last few sessions even when Nifty is touching new highs, which indicates a sign of weakness. I'm expecting a sell-off in Nifty in the next two sessions. πŸ”— The important levels have been unchanged with a demand zone at 23,250 followed by 23,100 and a resistance at 23,500.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 0.25% 🟩 πŸ”— Nifty touched a new all-time high but stayed in a ra
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 0.25% 🟩 πŸ”— Nifty touched a new all-time high but stayed in a rangebound trend throughout the day once again, ultimately forming a spinning top candlestick pattern on the daily charts. πŸ”— Market breadth remained positive with IndiaVIX dropping to 14 levels πŸ”— FIIs bought 427cr and DIIs bought 234cr in the cash market 🟩 πŸ“° NEWS: πŸ”— Fed kept interest data unchanged at 5.5% πŸ”— US CPI drops to 0.2% vs 0.3% previous (MoM) πŸ”— India’s retail inflation eases to 12-month low of 4.75% in May πŸ”— India's industrial production at 5% vs 4.9% (MoM) πŸ”— US inflation eases to 3.3% in May, defying expectations for a slight rise πŸ”— US stocks hit record highs, dollar pares losses after CPI πŸ”— Fed sees 1 rate cut in 2024 πŸ”— Important events for today: Initial Jobless Claims and US PPI πŸ“ˆTECHNICAL VIEW: πŸ”— Nifty has been in a rangebound trend in the last few days due to the VIX crash after elections. πŸ”— Although it would be great if Nifty heads for a pull back of at least 400pts before continuing the uptrend. πŸ”— The first support will be the demand block at 23,250 followed by single print TPO at 23,100; resistance is going to be the orderblock at 23,400 followed by high call OI level at 23,500.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.02% 🟩 πŸ”— Nifty opened on a flattish note and continued to st
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty gained +0.02% 🟩 πŸ”— Nifty opened on a flattish note and continued to stay in a rangebound trend throughout the day, ultimately forming a spinning top like canldestick pattern on the daily charts. πŸ”— Market breadth stayed positive with IndiaVIX dropping by 10% πŸ”— As of now, Global indices are depicting a mixed trend πŸ”» πŸ”— FIIs sold 111cr and DIIs bought 3,193cr in the cash market πŸ”» πŸ“° NEWS: πŸ”— US markets decline as Fed Policy meeting begins, S&P 500 falls 0.29%; GIFT Nifty down πŸ”— Wall St slips before inflation data, Fed decision; Apple rebounds πŸ”— Gold rush grips Asia despite near-record prices πŸ”— Oil prices edge up on optimistic demand outlook πŸ”— Dollar hits four-week high ahead of US inflation report πŸ”— World Bank says global growth stabilizing but well below pre-pandemic levels πŸ”— China CPI inflation disappoints in May, PPI shrinks at slower pace πŸ”— Important events for today: US Fed Rate Decision, India's CPI, and India's Industrial production πŸ“ˆTECHNICAL VIEW: πŸ”— Railway and other PSU stocks performed very well which shows that investors have a positive view regarding the retention of previous cabinet ministers. πŸ”— Nifty has been moving in a sideways trend near the all time high and the RSI on daily TF is slightly dropping, my view is still the same of being cautious unless RSI crosses above 70 levels. πŸ”— First support is still the same single print TPO at 23,100 followed by the value area at 22,950-23,000. On the upside, resistance remains the same swing high followed by 23,500 due to high call OI.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 0.13% πŸ”» πŸ”— Nifty stayed in a rangebound trend throughout the d
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 0.13% πŸ”» πŸ”— Nifty stayed in a rangebound trend throughout the day but witnessed some selling pressure in the last hour, ultimately forming a small bearish candle on the daily charts. πŸ”— Market breadth stayed positive with IndiaVIX falling to 16 πŸ”— As of now, Asian and EU markets closed in negative πŸ”», meanwhile, US indices are performing positively 🟩 πŸ”— FIIs bought 2,572cr and DIIs bought 2,764cr in the cash market 🟩 πŸ“° NEWS: πŸ”— Modi stamp intact: Portfolio allocation represents continuity and the promise of stability πŸ”— India's mutual fund assets nears 60 trillion rupees in May, data shows πŸ”— Open access solar installations rose two-fold in India to 1.8 gigawatts πŸ”— Interest rate cuts may start in December 2024 only if monsoons turn good and risks to food inflation abate πŸ”— Important events for today : EIA Short-Term Energy Outlook πŸ“ˆTECHNICAL VIEW: πŸ”— There were mixed cues from the market as yesterday was the selection day for cabinet ministries. Many of the cabinet ministers have retained their previous roles which may assure some positivity in the market. πŸ”— My only concern is that RSI is not catching up with the markets and it is creating a bearish divergence. If Nifty wants to continue to go higher than this then RSI on the daily TF should cross above 70 levels or it will be a sign of an upcoming correction. πŸ”— 23,100 is going to be the first support for the market, below this it can drop to 22,950-23,000; on the higher side, there is a VPOC at 23,340 which can work as a resistance followed by 23,500 due to high call OI.

🌐UPCOMING EVENTS : πŸ”— Jun 10: Japan's GDP πŸ”— Jun 11: EIA Short-Term Energy Outlook πŸ”— Jun 12: US & India's CPI πŸ”— Jun 12: In
🌐UPCOMING EVENTS : πŸ”— Jun 10: Japan's GDP πŸ”— Jun 11: EIA Short-Term Energy Outlook πŸ”— Jun 12: US & India's CPI πŸ”— Jun 12: India's Industrial Production πŸ”— Jun 12: Crude Oil Inventories πŸ”— Jun 12: UK's GDP πŸ”— Jun 12: Fed Interest Rate Decision πŸ”— Jun13: Initial Jobless Claims πŸ”— Jun 13: US PPI πŸ”— Jun 14: India's WPI Inflation πŸ”— Jun 14: India's FX Reserves

πŸ–₯ DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 0.89% 🟩 πŸ”— Nifty opened with a gap up and stayed in a rangebou
πŸ–₯ DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 0.89% 🟩 πŸ”— Nifty opened with a gap up and stayed in a rangebound trend throughout the day, ultimately forming a Doji candlestick pattern on the daily charts. πŸ”— Market breadth remained in the power of bulls with IndiaVIX dropping below 17 πŸ”— As of now, Global indices are trading in positive territory except US markets 🟩 πŸ”— FIIs sold 6,868cr and DIIs bought 3,718cr in the equity market market πŸ”» πŸ“° NEWS: πŸ”— Oil settles higher on hopes Fed will track European Central Bank rate cuts πŸ”— ECB lowers interest rates by 25 bps even as inflation fight continues πŸ”— US markets trade flat as investors await payrolls data; S&P 500 trades negative, GIFT Nifty up πŸ”— RBI's June policy decision to be a non-event for markets; all eyes on inflation, GDP forecast πŸ”— Important events for today : RBI's Interest Rate Decision and Non-Farm Payrolls πŸ“ˆTECHNICAL VIEW: πŸ”— Nifty stayed in a range-bough trend and the VIX has dropped below 17 levels, which signals low volatility. In the near term, Nifty can stay within a range-bound action between 22,500 - 23,000 but there's MPC meeting awaiting which can impact the market sentiment, so traders should remain vigilant. πŸ”— Although, I'm not doing any prediction and I personally feel if we get minor pullbacks on the index it can ensure a more sustainable rally. There is a VPOC at 22,585 which can act as a magnet for the price, if Nifty drops below this then next support is 22,400 followed by the single print TPO at 22,160. πŸ”— The resistance is going to be 23,000 (high call OI) followed by the value area at 23,200.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 3.36% 🟩 πŸ”— Nifty opened with a gap up and stayed in a slow but
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 3.36% 🟩 πŸ”— Nifty opened with a gap up and stayed in a slow but consistent uptrend throughout the day. πŸ”— Market breadth remained positive with IndiaVIX falling by 30% πŸ”— As of now, Global indices are trading in positive territory 🟩 πŸ”— FIIs sold 5,656cr and DIIs bought 4,555cr in the cash market πŸ”» πŸ“° NEWS: πŸ”— PM MODI TO TAKE OATH ON JUNE 8 πŸ”— FITCH: INDIA’S STRONG MEDIUM-TERM GROWTH OUTLOOK TO REMAIN INTACT πŸ”— Big boost for chips and electronics expected in NDA’s third term πŸ”— US markets trade higher as Nvidia jumps and rate cut hopes revive; S&P 500 up 0.77%, GIFT Nifty gains πŸ”— Market hopes are high that big central banks will cut rates around mid-year πŸ”— US private payroll growth slows to 4-month low; small firms cut jobs πŸ”— India's May services growth cools to five-month low, PMI shows πŸ”— Important events for today: ECB Interest Rate Decision and Initial Jobless Claims πŸ“ˆTECHNICAL VIEW: πŸ”— The outlook seems positive now that there are signs of political stability in the country, GIFT Nifty is also higher which indicates a gap up opening. πŸ”— For the upside, 23,200 is going to be a strong resistance; and for the down side 22,160 is going to be the immediate support followed by high volume node at 22,000

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 5.93% πŸ”» πŸ”— Nifty stayed in a downtrend throughout the day and
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 5.93% πŸ”» πŸ”— Nifty stayed in a downtrend throughout the day and there was a huge unwinding on HNIs favorite PSU stocks due to the close election result, ultimately forming a big bearish candle on the daily charts. πŸ”— Market breadth was completely in the favour of bears with IndiaVIX rising by almost 50% πŸ”— As of now, Global indices are also trading lower except US markets πŸ”» πŸ”— FIIs sold 12,436cr and DIIs sold 3,318cr in the cash market πŸ”» πŸ“° NEWS: πŸ”— 10Y bond yield rises by 10bps to 7.05% πŸ”— GIFT NIFTY EXTENDS GAINS, NOW UP 0.84% OR +185 POINTS πŸ”— PM MODI: WE WILL WORK AT FASTER PACE IN ELECTRONICS, SEMICONDUCTORS AND DEFENCE The new government's focus should shift to renewable project mix πŸ”— US job market hits milestone on long, strange trip back to pre-pandemic normal πŸ”— US job openings drop in April, as labor market normalizes πŸ”— Important events for today : Crude Oil Inventories, US & India's Services PMI πŸ“ˆTECHNICAL VIEW: πŸ”— Muted market expected even though NDA has won but the problem is there is no thumping majority which was expected by the Exit Polls. πŸ”— 22,300 is going to be a crucial resistance, above this we can witness a strong upsurge and it will also establish a change in character. Next strong resistance is placed at 22,600; support is going to be the 200DMA.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 3.25% 🟩 πŸ”— Nifty opened with a huge gap up due to the positive
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty surged 3.25% 🟩 πŸ”— Nifty opened with a huge gap up due to the positive sentiments because of the exit polls, ultimately forming a hammer like candlestick pattern on the daily charts πŸ”— Market breadth was in favor of bulls with IndiaVIX dropping by 15% πŸ”— As of now, Global indices are in positive territory 🟩 πŸ”— FIIs bought 6,851cr and DIIs bought 1,914cr in the cash market 🟩 πŸ“° NEWS: πŸ”— Brent oil falls to $80 a barrel as OPEC+ plans to restore output πŸ”— Fed official says interest rates should stay on hold for β€˜extended’ time πŸ”— India's May manufacturing PMI falls to 57.5 from 58.8 in April πŸ”— FII flows to improve if NDA forms a stable government as predicted πŸ”— US dollar sinks to three-week low on signs of slowing economy πŸ”— Dollar wallows at multi-month lows as Fed cut bets grow πŸ”— US factory activity, construction spending both fall πŸ”— Important events for today : JOLTs Job Opening & India's Election Results πŸ“ˆTECHNICAL VIEW : πŸ”— The sentiments are extremely bullish after the exit poll data, we are maintaining a buy-on-dip view. According to PnF charts, Nifty has created a strong double-top breakout. πŸ”— Important support levels are going to be high volume nodes at 23,220 followed by 23,070; and a possible resistance can be placed at 23,500 as there is a high call OI, but if the market breaks through this then we can see short-covering which will take market even higher.

🌐UPCOMING EVENTS : πŸ“Œ Jun 3: US Manufacturing PMI πŸ“Œ Jun 4: JOLTs Job Opening πŸ“Œ Jun 5: US & India's Services PMI πŸ“Œ Jun 5:
🌐UPCOMING EVENTS : πŸ“Œ Jun 3: US Manufacturing PMI πŸ“Œ Jun 4: JOLTs Job Opening πŸ“Œ Jun 5: US & India's Services PMI πŸ“Œ Jun 5: Crude Oil Inventories πŸ“Œ Jun 6: ECB Interest Rate Decision πŸ“Œ Jun 6: Initial Jobless Claims πŸ“Œ Jun 7: India's Interest Rate Decision πŸ“Œ Jun 7: Non-Farm Payroll πŸ“Œ Jun 7: India's FX Reserves

πŸ–₯ DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 0.95% πŸ”» πŸ“Ž Nifty broke the immediate support levels and conti
πŸ–₯ DAILY MARKET REPORT (DMR) πŸ•―MARKET: Yesterday Nifty plunged 0.95% πŸ”» πŸ“Ž Nifty broke the immediate support levels and continued the LHLL chart structure, ultimately forming a strong bearish candle on the daily charts. πŸ“Ž Market breadth remained strongly negative with IndiaVIX at 24 πŸ“Ž As of now, Global markets, except EU, are trading in negative territory πŸ”» πŸ“Ž FIIs sold 3,050cr and DIIs bought 3,433cr in the cash market πŸ”» πŸ“° NEWS: πŸ“Ž Indian Railways' dedicated freight corridors network has started attracting more freight players and is set to be a game changer for freight services πŸ“Ž Fitch and its local 100% subsidiary India Ratings are bullish πŸ“Ž Power demand hits record of 250 GW amid soaring temperature πŸ“Ž US markets tumble as GDP growth comes in lower than estimated, S&P 500 falls 0.5% πŸ“Ž Mandate for BJP can send stocks in a 'solid bull's market', says FM πŸ“Ž US weekly jobless claims edge up in latest week πŸ“Ž Important events for today : India's GDP, Eurozone CPI, and US PCE Price Index πŸ“ˆTECHNICAL VIEW: πŸ“Ž According to PnF charts, Nifty has formed a high pole warning pattern, which indicates 22,350 is going to be the last or the main support level. πŸ“Ž The statements from the govt officials and credit rating agencies have mostly been positive, which concludes my view for tomorrow to remain stable with stock-specific action. πŸ“Ž Above 22,600 Nifty will establish a change in character, which will be a relief for bulls.

πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Nifty plunged 0.8% πŸ”» πŸ“Ž As expected Nifty opened with a huge gap down and stayed in a
πŸ–₯DAILY MARKET REPORT (DMR) πŸ•―MARKET: Nifty plunged 0.8% πŸ”» πŸ“Ž As expected Nifty opened with a huge gap down and stayed in a rangebound trend, ultimately forming a strong bearish candle on the daily charts. πŸ“Ž Market breadth stayed in the favor of bears with IndiaVIX hovering at 24 levels πŸ“Ž As of now, Global Indices are in deep red due to the war πŸ”» πŸ“Ž FIIs sold 5,842cr and DIIs bought 5,234cr in the cash market πŸ”» πŸ“° NEWS: πŸ“Ž S&P GIVES INDIA RATING BBB- ; OUTLOOK POSITIVE πŸ“Ž S&P REVISES INDIA OUTLOOK TO POSITIVE FROM STABLE πŸ“Ž Delhi recorded highest ever recorded temperature in India at 52.3 Β°C πŸ“Ž Biden administration expands tax credits beyond wind, solar πŸ“Ž Oil inventories slump by 6.5M barrels last week: API πŸ“Ž Yen hits 4-week low, dollar up ahead of key inflation data πŸ“Ž India's GDP growth may have moderated to 6.5% in January-March πŸ“Ž Banks' credit growth in FY25 to slow down to 14% on lower GDP uptick, RBI measures: Crisil πŸ“Ž Important events for today : US GDP and Initial Jobless Claims πŸ“ˆTECHNICAL VIEW: πŸ“Ž Nifty is in a LHLL structure with PnF charts indicating an upward rally halt. We must wait for a proper bottoming of the price before taking new entries. πŸ“Ž As long as Nifty clears the unfilled gap at 22,850, it will not give relief or a suitable condition for the bulls. πŸ“Ž Next support is placed at 22,600 FVG zone followed by the Order Block at 22,470; Resistance is going to be the unfilled gap at 22,850 followed by the Order Block at 22,940.