Nifty Daily View 15 June

Nifty Weekly View:
On the basis of weekly formation of the Nifty, the level of 10330 would be ultimate resistance for the market. On the crossing of 10330, Nifty would jump on the levels of 10550/10600. However, the journey from the level of 9950 (weekly closing) up to 10330 would remain extremely difficult for bulls. Avoid taking any fresh positions above the levels of 10150 till 10300. In fact, reduce weak long positions between 10150 and 10300 levels. Positional buying is advisable only on declines at 9650, keeping a final stop loss at 9500. Search for selling opportunities below the level of 9500. Today, 9800/9770 should act major support for Nifty. Keep final stop loss at 9700 for creating long positions. Bank Nifty recovered sharply from lows and closed at days highest level of Friday. For the day 20300 and 20150 should act as major supports. Buy on Dips.