*Although, UK’s hung Parliament may be a major disappointment, but the
positive side may be “Real Brexit” may not happen at all; UK may use
this poll as a 2^nd referendum to remain with EU*
*Market Mantra: 09/06/2017 (08:30)*
*SGX-NF: 9665 (-5 points)*
*For the Day:*
*Key support for NF: 9660/9605-9560/9530*
*Key resistance for NF: 9715-9750*
*Key support for BNF: 23450-23250*
*Key resistance for BNF: 23750-23875*
As par early SGX indication, Nifty Fut (June) may open around 9665,
almost flat following mixed global cues and surprised UK poll results so
far; exit poll is indicating a hung parliament contrary to earlier
opinion poll of a convincing victory for Tories (Theresa May).
Overnight, US market closed almost flat from some earlier loses after
Comey’s congressional testimony shows no major “gun fire”, which market
does not know so far; but we may see more drama for this US political
game of football, even if there is no serious threat of a Trump
impeachment as of now.
After the unexpected result from UK, risk trade may suffer in the short
term; but the positive side may be the real Brexit will not happen at
all. But still then, the resultant uncertainty may not be good for the
overall global market sentiment.
Back to home, Indian market may now focus more on the GST disruption issues.
*Hints for actionable trading ideas:*
*Time & Price action suggests that, Nifty Fut (May) has to sustain over
9750 area for further rally towards 9825-9865 & 9930-10050 in the short
term (under bullish case scenario).*
*On flip side, sustaining below 9730-9715 area, NF may fall towards
9630/9595-9530 & 9490-9380 area in the short term (under bear case
scenario).*
*Similarly, BNF has to sustain over 23700 area for further rally towards
23875-24000 & 24100-24150 area in the near term (under bullish case
scenario).*
*On the flip side, sustaining below 23650 area, BNF may fall towards
23450-23250 & 23050-22950/22750 area in the near term (under bear case
scenario).*
<https://4.bp.blogspot.com/-QwIylxxVwh4/WTofUNqGu7I/AAAAAAAAL_w/3cB3SKPfcZU7ihLFWaPM8870C9rHJMCGQCLcB/s1600/SGX-NF-09-06-2017.png>
SGX-NF
--
Thanks & Regards,
Asis Ghosh
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