InvestorQ : How do you suggest to trade on 18 June in stock markets? What is your trading view for the day?
sara Kunju made post

How do you suggest to trade on 18 June in stock markets? What is your trading view for the day?

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diksha shah answered.
5 months ago
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Thursday was the weekly F&O expiry day and hence pressure on the Nifty continued as it closed below 15,700 levels. Of course, the downward charge was again led by Adani stocks with the group losing over $22 billion in market cap during the week. This has been the quickest value wipe of a particular set of companies in such a short time.

To be fair, the trigger for the correction was the Fed statement which hinted at likely rate hikes by 2023. However, Powell continued to try and paint an optimistic picture. The markets are expecting the RBI to modify its stance accordingly and that it is expected that it would impact yields. On Thursday rupee was weaker and yields were stronger.

FPI action was negative on Thursday with net selling of Rs.880 crore and that has been the underlying trend almost since the first hints of a hardening of language by the Fed. Domestic institutions bought equities worth just about Rs.45 crore as they waited in the side lines. The US Fed statement has made FPIs cautious about Indian equities due to macro pressures.

Dow continued to react negatively to the language of the Fed and remained under pressure losing 65 bps. However, the tech-laden NASDAQ was up 87 bps. European markets were mixed on Thursday but SGX Nifty is higher in early trades on Friday. Traders can expect some degree of caution in the markets ahead of the weekend.

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