Nifty Future for June 25 - Viral Joshi

The Reserve Bank of India (RBI) hiked repo rate and CRR (cash reserve ratio) by 50 basis points each. Accordingly, the CRR hike would take effect in two stages. First, a 25 basis point hike on July 5, and another 25 basis point hike on July 19. By July 19, CRR will stand at 8.75%, while the repo rate would take effect immediately. Due to this, the market would open gap-down and as we are near to expiry, some recovery would be seen in the last half hour. It appears that the market is at the tail-end of the correction. The markets are making a bottom formation, and long-term investors could buy things in parts from these levels onward.

For Nifty future,

S1 4100; S2 4050; S3 4000; and R1 4150; R2 4220; R3 4280.
Buy above 4220 and if it breaks 4250 then, 4280-4300.
Short below 4120 and if it breaks then 4050-4000.

Daily moving average

5DMA 4478;
20DMA 4581;
50DMA 4849;
200DMA 5236.