Market Analysis for June 12, 2020
This is trading strategies trendline...
Trendline gives us better idea to go with the trade as per trendline...now market has tested its high of 10300 as per trendline and now after touching high as detracted so till the time its not positively go beyond 10200 above level no point in holding long position.
If we analyse DII and FII data, FII pumped 14000 cr in Indian Equity Market in 13178 cr in the month of May 2020 and even in June 12195 cr till date in the month of June 9, but in the last 3 days they are doing some profit booking. on the other side DII invested 11356 cr in indian equity market in the month of May 2020 but in june they are booking profit as taken 2000 crore out of the market.
So coming will be highly volatile for the market as it can again drop another 8-10% to sub 9000 level.
be cautious do your trade accordingly.
Trendline gives us better idea to go with the trade as per trendline...now market has tested its high of 10300 as per trendline and now after touching high as detracted so till the time its not positively go beyond 10200 above level no point in holding long position.
If we analyse DII and FII data, FII pumped 14000 cr in Indian Equity Market in 13178 cr in the month of May 2020 and even in June 12195 cr till date in the month of June 9, but in the last 3 days they are doing some profit booking. on the other side DII invested 11356 cr in indian equity market in the month of May 2020 but in june they are booking profit as taken 2000 crore out of the market.
So coming will be highly volatile for the market as it can again drop another 8-10% to sub 9000 level.
be cautious do your trade accordingly.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.