NAMN FINANCIAL ADVISORY - MARKET OUTLOOK
- On the Technical front, After a gap up opening Nifty had failed to hold 9900 decisively and profit booking action dragged Nifty down & it closed below 9900 level. On a daily scale, it has formed a normal sized Red candle which implies bears are fighting hard to bring Nifty down to more lower levels
- On the Options front, significant call writing at 9900 & 10000 strikes was observed & put unwinding at the same strikes supported the bearish move yesterday
- After a bullish rally of 450-500 points, Nifty is likely to consolidate between 9800 & 10000 mark till July Expiry. However, some stock specific action shall be witnessed
*View on USD/INR* 🔎
- USD/INR continue to be range bound within 64.00 - 64.70 levels in the near term*Sectors with Positive Outlook* 🔎
- NBFCs, Banks
- Oil & Gas
*Stocks with positive outlook*🔎
- Reliance Industries, Axis Bank- Voltas, ONGC
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