*Market Mantra: 15/06/2017 (08:30)*
*SGX-NF: 9605 (-33 points)*
*For the Day:*
*Key support for NF: 9580-9535/9505*
*Key resistance for NF: 9675-9715*
*Key support for BNF: 23350-23200*
*Key resistance for BNF: 23650-23750*
*Hints for actionable trading ideas:*
*Time & Price action suggests that, Nifty Fut (May) has to sustain over
9675 area for further rally towards 9715-9770 & 9825-9865 in the short
term (under bullish case scenario).*
*On flip side, sustaining below 9655 area, NF may fall towards 9580-9535
& 9505-9405 area in the short term (under bear case scenario).*
*Similarly, BNF has to sustain over 23650 area for further rally towards
23750-23875 & 24000-24100 area in the near term (under bullish case
scenario).*
*On the flip side, sustaining below 23600 area, BNF may fall towards
23350-23200 & 23050-22950 area in the near term (under bear case scenario).*
As par early SGX indication, Nifty Fut (June) may open around 9605,
almost gap-down by 33 points following tepid global cues after report of
congressional probe on Trump for the alleged Russian link, soft US
economic data released yesterday, a dovish hike by Fed with gradual
tapering of its B/S (QE bonds) as expected. Although, statement of Fed
was dovish as expected, to balance this, Yellen sounded somewhat hawkish
in the Q&A session and termed the tepid US CPI as transitory. In brief,
Fed may be optimistic about US growth, job market but quite pessimistic
about inflation & fiscal stimulus (Trumponomics). But, Yellen is not
ready to also acknowledge the subdued inflation and this Fed fantasy may
be keeping the market in balance; as par Fed, consecutive US rate hike
is a sign of confidence on the economy. But, more than Fed hike; taper
tantrum may hurt the risk trade & specially EM. All eyes may be now on
the PBOC/China for its monetary policy adjustments after Fed hike as it
may be the primary source of concern after Fed hike.
Back to home, RBI may be constrained to be neutral in order to keep the
policy parity with a hawkish Fed despite room for rate cut. All eyes may
be also on the GST (disruptions) and PSBS consolidation & NPA resolution.
<https://4.bp.blogspot.com/-AnIRsRR9VtY/WUIKuYtMU4I/AAAAAAAAMD4/hKOP3LOayX8p3DolA0rvSqqO5nFwYQzogCLcBGAs/s1600/SGX-NF-15-06-2017.png>
SGX-NF
--
Thanks & Regards,
Asis Ghosh
--
Kindly email stock reports at
STOCKRESEARCHER@googlegroups.com
For sharing knowledge
-- NIFTYVIEWS.COM NOW A FREE OPEN SOURCE WEBSITE.
http://www.niftyviews.com/
Disclaimer :-
"The opinions expressed by the members on this board are based on
their individual experience and perceptions and to share information
with other members with the best of intentions to help fellow members
in investment decisions as equity investment is a risky venture.The administrator of
www.Niftyviews.com just provide a platform for the authors to express their opinion
and take no guarantee for the genuineness of the same."ANY member of this forum
doesnt prepare or publish any research report; or ii. provide research report; or
iii. make 'buy/sell/hold' recommendation; or iv. give price target;
---
You received this message because you are subscribed to the Google Groups "Niftyviews.com" group.
To unsubscribe from this group and stop receiving emails from it, send an email
to stockresearcher+unsubscr...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
