Hot Stocks | Can bet on Mahanagar Gas, Hindustan Unilever, HDFC Life Insurance Company for short term
Episode 3400, Jun 16, 2021, 12:30 AM
Nifty surged to its all-time highs once again and continued its winning streak for the fourth consecutive session on June 15 as bulls took the charge firmly, tracking optimism in global markets despite rising inflation concerns.
Nifty ended at 15,869 as FMCG counter boosted sentiment. From the banking space, ICICI Bank and Axis Bank also contributed to gains in Bank Nifty.
On the derivative front, Call writers hold maximum open interest at 16,000 strike which should act as a major hurdle and a key psychological level for the Nifty in the upcoming sessions.
On the downside, 15,800 would be major support as Put writers were seen adding hefty open interest there.
On the technical front, Bank Nifty looks promising from hereon along with FMCG counters.
Bank Nifty has an immediate hurdle at 35,500 above which follow-up buying can be seen which could move the index towards 36,000 as well.