Market view - 27-6-17 to 30-6-17

A 4 day week which also has the monthly f & o expiry for June!
A perfect case for rise in volatility ...

Nifty50 is now in correction mode after the superb rally we have had.
No signs yet that the upmove is ending. So seems like just a correction for now.

Nifty50 will need to go below 9530 to confirm this correction.

BUYING opportunities in Nifty50 are hard to find right now!
Extreme short term signals suggest an attempt at a rally could happen at the start of the week.

This week, I think I would patiently look for only SELL signals in Nifty50.

Note : Sensex is also showing signals similar to Nifty.



NiftyBank is also showing signs of weakness, but not yet completely negative.

23300 looks like the breakdown level here.

This week, I think in Nifty Bank also I would patiently wait for SELL signals.
Patiently, because extreme short term signals here also indicate an attempt at a rally.



Volatility is set to rise in the coming weeks!
So if you are taking options trades in individual stocks, please check volatility
readings!


Sectoral Index view -

POSITIVE - FMCG.

NEGATIVE - Energy(short term rally possible), Metal.

POSITIVE BUT NO BUY SIGNALS - Auto(short term buy), Realty(short term sell)

NEGATIVE BUT NO SELL SIGNALS - IT(short term buy), Pharma.



Personal Note:
Not an area for medium/long term BUYING!
Patience in waiting for signals could be key this week.