Mentorship InstaView 24 June’21: What’s with 15,800?


Nifty View: Benchmark Nifty thrice over the past three trading sessions had broken above 15,800 just to slip back below at the close. Clearly, for the underlying UP trend, it has become crucial for the index to sustain above 15,800 to bring back strong bullish sentiment. Such a possibility exists for which I feel that the Private sector banks have a role to play - likes of HDFCBANK and ICICIBANK. On the downside, supports to watch for is obviously at 15,700 a slip below which can easily see a drop of 100-150 points for the index. A bullish stance should be maintained keeping in mind the underlying UP trend and we should wait for the upside momentum to kick in.

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