Nifty Future for June 19 - Viral Joshi

Yesterday Asian markets did a pullback, so did our market too. As global outlook is weak, today Nifty can open gap-down. Use the dip for buying. As far i think Nifty future cannot break 4400 level again. As Dow Jones is also at my support level, from where I expect a bounce back, i.e 12,000 level. On the political front, the postponement of the Congress-Left meeting did the markets in, nonetheless, the Nuclear deal is still on the table - just on the sidelines for while.

For Nifty future, pivot is 4605 and support 4430.

S1 4550; S2 4500; S3 4480/4450; and R1 4580; R2 4610; R3 4650;

Buy above 4605 and if it breaks 4620 then 4650-4680;
Short below 4580 and if it breaks 4550 then 4500-4480.

Sideways range is 4580-4605 ;

Daily moving average:

5DMA 4573;
20DMA 4701;
50DMA 4881;
200DMA 5238.