Transcription
Welcome to Zee Business's Managing Editor Anil Singh. Anil Sir, good morning. Today, the June series is starting. What expectations should we have? Also, look, generally, the start of a series always happens with slightly positive notes. In the last eight series, the market has been slightly strong on the first day of the series. But today, the signals appear a bit weak. Gift Nifty is down 80 points. Firstly, we saw some selling from FIIs yesterday on the expiry day. Secondly, global markets are fine otherwise. Nasdaq is hyper. Dow closed slightly weak. Crude oil is also below 100. So, there isn't any very big negative trigger. But yes, the markets are tired, waiting for the deal to finalize between America and Iran to know what happens next, and if it doesn't happen, then that too. So, in that regard, the market appears to be more in a wait-and-watch mood. Along with that, today is also the monthly expiry of the Sensex. The market will be closed tomorrow. There is a holiday on the occasion of Eid, so interest is also a bit less in that regard. Considering the weekly expiry of the Sensex today, I think some volatility can be seen, and if we start weak, support can come from lower levels. Ah, the three-day rally in the rupee also saw a break yesterday. You also saw some light profit booking there. So, overall, the signals are mixed. Ah, the new series is starting on a weak note. FIIs have around 16% long positions in index futures. The June series is more or less mixed. You can consider it slightly on the positive side. If we look at all these signals from the last three series, in June, the market has been positive in all the last three series. So, overall, the signals are mixed, not very bullish, not very bearish, and in such a situation, if there is a large gap down, you will also get support at lower levels and buying will also return. Yes, absolutely. Now, what will be the important levels for Nifty and Nifty Bank, Sir? In terms of important levels, if you look, support for Nifty starts around 23815. Actually, look, yesterday, we closed around the day's low, and if we open 1000-1 point lower today, we will open around 23815. So, 23675 to 23815 is your support range for Nifty, and at higher levels, 24000 to 24125 is a range where you might see some profit booking. Now, regarding Bank Nifty. Bank Nifty looks comparatively a bit better, a bit stronger. 54,600 to 54,900 is the first support range for Bank Nifty, and it should not break easily. Below 54,4900 will give a sign of weakness. But 54,600 will act as good strong support for you, and you can consider 55,300 to 55,600 as a resistance range for Bank Nifty. So, you need to keep an eye on these levels. Yes. Thank you, Sir, for talking. We will meet again in a little while.