-------- Forwarded Message --------
Subject: Bank Nifty Fut(June): 17300-17100 Zone Is Vital For Stability
After "Rexit" Amid Confusion Of "Brexit/Bremain"
Date: Tue, 21 Jun 2016 07:26:11 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
*BNF: 17715 (LTP)*
*
* *Sell around 17800-18000* OR on rise around 18200-18400;*
*
* *TGT:
17240*-17000-16800-16600-16300*-16000-15800-15700*-15500-15200*-14900-14600
(5-15 days)*
*
* *TSL> 18100 OR > 18500*
*Note:* Consecutive closing (3 days) above 18500 for any reason, BNF may
further rally up to 18600*-19200-19600 in the near term (alternative
bullish case scenario from the current trading level).
After yesterday's institution supported market following "Rexit", we may
see real concern and price action in the coming days.
Also, going by the price action of global risk assets and recent rally
of GBPUSD (CMP:1.4650), "Beremain" may be already priced in to a great
extent.
SPF yesterday was not able to sustain above 2100 zone and that may be an
indication that market is quite anxious about "Brexit" referendum to be
scheduled on 23-rd June.
After this "Brexit" drama, all eyes will be shifted to Fed, US economy
and China again and today's Yellen testimony may provide some cues about
thinking of Fed about the "strength" of the US economy.
In the event of "Beremain", concern of Fed about disorderly market for
"Brexit" will reduce and implied rate hike probability in Sep'16 may
increase quite dramatically; although chances of any Fed hike just
before US election is quite low, but market may also focus on inherent
strength of US economy and next US president & any drastic change in
Fed's stance going ahead.
*Analytical Charts:*
<https://4.bp.blogspot.com/-OVScKwOKBHk/V2ic9Yqo6aI/AAAAAAAAHjE/_gz6USTIaP4ibmxkjYoreT_1MlAH5Q0AACLcB/s1600/BNF-20-06-2016.png>
<https://1.bp.blogspot.com/-4cbK2TfKWKQ/V2idA9rPgdI/AAAAAAAAHjM/10_k9r70gMwmIH1V6KVZ5hRHcJ-K-dYCwCLcB/s1600/BNF-FIBB-20-06-2016.png>
<https://3.bp.blogspot.com/-cQPg0bXIYPs/V2idJ42rosI/AAAAAAAAHjU/w5UZpR2MSAY79GDchllEEX4QBVK9fTxGgCLcB/s1600/BNF-WK-20-06-2016.png>
<https://3.bp.blogspot.com/-6xo-39LuhBw/V2idNB-AtnI/AAAAAAAAHjc/GaT4W5IlbQ8PFz7dYW9O6rrx7YOxFvQ0ACLcB/s1600/BNF-TL-20-06-2016.png>
<https://3.bp.blogspot.com/--rbU0GHkYD0/V2idRZSn6II/AAAAAAAAHjk/Xw1h9inTDw8FlzhndT3mscQXHjsZucGrwCLcB/s1600/BNF-PATTERN-20-06-2016.png>
<https://4.bp.blogspot.com/-DJ1PTmv88Mk/V2idTjpd0cI/AAAAAAAAHjs/tx1-lJBGOyoFoMokmVEwrbx32x0Bw1tSQCLcB/s1600/BNF-EW-20-06-2016.png>
--
Thanks & Regards,
Asis Ghosh
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