InvestorQ : What is your trading view for Friday, 11 June being the last trading session for the week?
Dia Deshpande made post

What is your trading view for Friday, 11 June being the last trading session for the week?

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diksha shah answered.
2 weeks ago
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The bulls were back on Thursday and the scary basket selling of Wednesday almost looked like an aberration. The Nifty and Sensex bounced back sharply on Thursday with Nifty gaining 102 points and wiping out the fall of Wednesday. Most of the financials bounced back sharply along with pharma stocks.

The advance / decline ratio or the A/D ratio was emphatic at 34:15 for Nifty stocks and more importantly, you get conviction from the VIX continuing to remain subdued at around 15 levels. This is the lowest VIX levels in more than a year and hints at limited downsides. Auto was the only sector in losses on Thursday.

Foreign portfolio investors are back to positive territory in the month of June and on Thursday they were net buyers to the tune of Rs.1,330 crore. However, the domestic institutions like MFs and insurances sold equities worth Rs.575 crore. Probably, more good news from the vaccination front could give confidence to investors.

Global cues are neutral to positive for Friday. Dow Jones Industrial Average is up over 120 points on Thursday but NASDAQ was flat. European markets closed mixed on Friday with downside bias. Even the SGX Nifty is just about 10 bps up in early trades and we could see some natural caution ahead of the week end on Friday trading.

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