29 june nifty F&O outlook

29 june nifty F&O outlook Nifty future on 28 June 2016 closed at 8135 with gain. We saw breakout above 8120 and nifty hit high of 8158 in intraday.   Nifty June 2016 futures closed at 8136.05 on Tuesday at a premium of 8.20 points over spot closing of 8,127.85, while Nifty July 2016 futures ended at 8166.55. FMCG stocks like ITC and Hindustan Unilever rallied about 3 percent.   For tomorrow, nifty above 8115 remain bullish and buy. Nifty index opened flattish but managed to hold above 8,080 zones and headed towards 8,150 levels. Index traded in a small trading range but sustained buying. On upside 8160 and 8220 are intraday resistances while on downside nifty future has multiple support zones.   Wall Street shares were expected to bounce 1 percent when the market reopens, as European shares FTSE clawed back 2.4 percentage points. A measure of calm has returned to global financial markets. Yet as long as the terms and timing of Brexit are unknown, these markets remain vulnerable.

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Pramod Baviskar

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