IGI Logo

Nifty Outlook

Markets ended marginally lower in a volatile trading session, in continuation of the prevailing trend. After the soft start, the benchmark made multiple attempts to recover but selling pressure in heavyweights capped the upside till the end. Eventually, the Nifty index ended lower by 0.3% to close at 15,732 levels. Meanwhile, the sectoral indices traded mixed Oil & Gas, Metal and Auto ended with losses whereas Realty and IT ended with gains. The broader markets too ended with similar losses.

Markets are witnessing pressure ahead of the crucial US Fed meet outcome scheduled on Wednesday. Given the inflation data at a 40-year high in the US, expectations of 75 bps hike have increased. We thus reiterate our cautious view on markets and suggest limiting leveraged position ahead of the event.

News

* Torrent Power has completed acquisition of 50 MW solar power plant from SkyPower Group, in Telangana. Enterprise value for this acquisition is Rs 416 cr.

* WPIL has received an order from the Government of West Bengal for execution of a Turnkey Project for an aggregate value of Rs 430.9 cr to be completed over a period of 24 months.

* Adani and energy supermajor Total Energies of France, have entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem. In this strategic alliance, Total Energies will acquire 25% minority interest in Adani New Industries Ltd from Adani Enterprises Ltd.

Derivative Ideas

NIFTY shed 0.27% and closed at 15732.1 on 14th June. The markets have been witnessing pressure for quite some time now amid weak global cues. With Fresh CE writing at 15800 and beyond strikes, we expect NIFTY to trade with negative bias only. 15950 is critical for NIFTY to watch out for this expiry. We thus suggest selling 16000 CE within the recommended levels.

Strategy:- SELL NIFTY 16 JUN 16000 CE@ 45-50, STOPLOSS 75, TARGET 10.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer