Market Update 14. 06. 2021

Updated: Jun 19, 2021

Global Markets have been bullish from October to February after which we has seen a bit of a range bound momentum. However, we are currently trading near an all-time high. Vix remains at it's lowest levels of 2021.

The S&P500 closed at an all-time high on Friday. We have had an amazingly long run on Banknifty. No reason to go short as of now.

Highest oi at 35000 level. Since June Fii have been long on futures by an average of 80% above.

In a bull case scenario the fact that Banknifty has been underperforming Nifty chances are we may see a good expansion.

Meanwhile, in a bear case scenario as highlighted above the head and shoulder pattern also seems to be falling in place.

Vix continues to be a factor that can change the atmosphere. The index has been crashing on a gap down basis and considering the state of the market we would certainly need just one negative scenario to fill up these gaps and square off all longs.

IIP, CPI and WPI data will be vital to watch out for the following week.

These are my alternative views and I hope it helps you. Trade well and stay safe.