#NIFTY50 Outlook for tomorrow
1.SGXNIFTY - +0.56% Up( Adjusted)
2. INDIAVIX - AT +1.21% Up
3. Global market
- Nasadq- +1.47% Up
-FTSE- +0.7 % Up
-DAX- +0.39% Up
-Hang Sang- -0.17% Down
• News which impact the market-
1. Rising corona fear now looks slow as recovery cases are increasing and new cases are decreasing.
2. U.S. stocks climbed on Friday, led by technology shares, after a tepid U.S. monthly jobs report relieved investor concerns the Federal Reserve might rein in monetary stimulus soon. Investors were concerned that a robust jobs report that pointed to rising inflation could prompt the Fed to pull back on stimulus put in place during the pandemic."
Tech and other growth stocks are seen as particularly vulnerable if inflation drives up bond yields and more heavily discounts the value of future cash flows. The Russell 1000 growth index outperformed the counterpart Russell value index.”
Economic News
“U.S. employers increased hiring in May and raised wages as they competed for workers. But the non-farm payrolls increase of 559,000 jobs was below the 650,000 forecast of economists polled by Reuters. That left employment about 7.6 million jobs below its peak in February 2020. The unemployment rate declined by 0.3 percentage points to 5.8%."
Oil retreated on the possibility of Iranian supply returning to markets.
4. RBI's policies are nutral as pervious.
5. COMMODITIES MARKET IMPACT ON NIFTY- Rising in Commodity.
• #Copper prices extended gains and traded at the high point of the day as investors take advantage of the lower price to build a fresh position. The non-ferrous metal had crashed to a five-week low yesterday as strong US jobs data fuelled concerns that monetary policy could tighter.
Copper delivery for June gained Rs 8, or 1.09 percent, to Rs 742.15 per kg at 18:48 hours with a business turnover of 4,926 lots.
• Gold prices continued to fall for the third day by Rs 424 to Rs 48,578 per 10 gram at Mumbai retail market tracking sharp selloff yesterday in the global market on upbeat US economic data and a firm dollar. The yellow metal ended the week in red with a loss of Rs 76 or 0.16 percent in the domestic market.
• Volatility may continue in commodities
6. FIIs net bought (Rs.1,499.37 Cr )
7. FII - bought and DII sold net Rs. 1,175.01 Cr.
8. NIFTY50 is made new highs everyday
Banks, Auto, Finance and PSU's will support nifty.
Levels for nifty -
R1- 15,650
R2- 15,700
R3- 15,800 ( very strong)
S1- 15,500
S2- 15,430
S3- 15,300
• nifty look strong bullish. Go long with small Sl.
16,000 for next month😅😉
Prediction for tomorrow- NIFTY likely to open GAP UP
Can take trade using above support and resistance.
Keep Eye On