Nifty InstaView 10 June’21: Counter Gains


Nifty View: The benchmark Nifty index reciprocated well after yesterday’s fall with a steady 90 odd point gains in today’s trading session. It has been a stock-specific market with high-momentum moves coming in today from Financials and Real Estate. Going forward if the index has to hit a new life high then Financials & Banks will participate - stocks like HDFC and HDFCBANK. On the flip side, if the index fails to hold onto today’s gains and slips below 15,700 again, then the next leg down will be sharper and larger, so be careful with your open long positions. The underlying trend is UP and resilient and a sustained move above 15,800 will negate the bearish possibilities from the erstwhile "Rising Wedge" and "Negative Divergence". Stay cautiously bullish.


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