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Indian markets could open mildly higher, in line with largely positive Asian markets today and higher US markets on Monday..… - HDFC Securities

US stock-market benchmarks recorded significant gains Monday, with the Dow Jones Industrial Average seeing its best day since early March, as investors focused on a strengthening economy after the Federal Reserve last week signaled it may raise rates sooner than previously expected. Stocks charged higher Monday as investors focused on strengths in the U.S. economy heading into the summer months, as domestic COVID restrictions fade.

Bitcoin fell as low as $31,333, a two-week trough, dragging down other cryptocurrencies. It was last down 10.7%, its largest daily percentage loss in a month. The world's biggest cryptocurrency has lost more than 20% in the last six days alone and was at half its April peak of almost $65,000. China has been tightening its crackdown on cryptocurrencies. On Friday, authorities in the southwest province of Sichuan ordered bitcoin mining projects to close.

Asian stocks opened mostly higher Tuesday, tracking a U.S. equity rebound as the prospect of very gradual policy tightening tempers some of the concerns about the Federal Reserve’s hawkish tilt.

Indian benchmark equity indices made a smart recovery from the opening lows to end in the positive on June 21. At close the Nifty settled with a gain of 63 points, or 0.40 percent, at 15,746.50. Indian market was the best performer in the Asian region for the day.

Nifty showed another spectacular recovery from the opening lows after a similar show on Friday. Lack of large volumes on such days reflect that only fringe players are getting panicky and action otherwise keeps rotating among stocks – both large and midcaps. While rising however indices may be slow in the absence of positive triggers. Nifty seems to have made a minor bottom in the 15451-15505 band. On rises 15770-15812 could be the resistance in the near term.

Daily Technical View on Nifty

Nifty : Bulls Back With Vengeance

Nifty opened with a gap down of more than 150 points, hit a low of 15505 in the early morning. However, Nifty managed to hold above the crucial support of 15450, which happens to be the Friday’s low. Sharp recovery was seen through out the day in Nifty and BankNifty, which recouped all the losses registered on Friday. Nifty has closed at 15746, with a large bullish body candle on the daily chart, which indicates that bulls are back with vengeance Nifty reclaimed a level above its 20 days EMA Indicators and oscillators, which turned weak couple of days back have failed to get bearish price confirmation in Nifty and BankNifty Advance Decline ratio recovered sharply by the end of the session towards 3:2 in NSE Nifty closed on the strong wicket and it is expected to continue its upward journey in today’s session too. BankNifty ended the Session with bullish Engulfing pattern on the daily charts, which indicates the bullish reversal Resistance for BankNifty is seen at 35350-35400 Support for BankNifty is seen at 34580 From the sectors Banks, NBFCs, Pharma, PSU and IT looks the strongest for the day

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