The FOMC Action

US Stock Market

In the previous session, American market closed flat to negative. S&p500 closed at 3207, DOW closed at 27272 and NASDAQ closed slightly positive at 993. RUSSELL closed negative at 1515.

Today, market may behave positive owing to FOMC action. Day traders can book profit in short position in S&P500 around 3190. Today, S&P500 may move up to 3240-3250. On Thursday-Friday, the market may behave negative. ______is possible on Monday. Positional traders can short S&P500 around 3250+ or at closing or buy put options and hold this position till Friday’s closing or ______(details will be shared in the subsequent newsletter).

Next Tuesday-Wednesday (16th-17th June) is expected to be positive. From 18th June, market may enter a dangerous zone. By mid-July 2020, a sharp correction is possible in the market with heavy volatility.

Today, it is advised to book profit in long position of stocks.

Indian Stock Market

Indian market may behave overall positive for today and tomorrow. On Friday, a sharp drop is possible. On Monday, ______ is possible.

Intraday perspective: positive opening is indicated and market will remain upward till 11.40 HRS. From 11.40 to 14.00 HRS, a correction is possible. After 14.00 HRS, mixed to positive trend is indicated.

Nifty has support at 10,000 and resistance at 10,330. Bank Nifty has support at 20,400 and resistance at 21,500.