Nifty Fut (June): Need To Sustain Over 8260-8295 For Any Type Of Relief Rally Amid Talk Of "Brexit Referendum Postponement"

Trading Idea: NSE-NF

SGX-NF: 8212 (CMP)

NSE-NF: 8153 (LTP)

Sell on rise around 8260-8295 OR 8335-8355 OR 8410-8430

TGT: 8150*-8105-8060*-8035-7950-7820-7780-7675-7595-7525-7410-7295 (5-15 days)

TSL> 8320 OR > 8375 OR > 8475

Note: Consecutive closing above (3 days) 8335 zone for any reason, NF may further rally towards 8410-8475* and 8690-8910 zone in the near term (alternative bullish case scenario from the current trading level).

Till yesterday evening there was virtually "risk off" trade on the global front as a result of confused and not so confident Fed, some BOJ hawkish stance & the Brexit fear.

Global market dramatically went into "risk on" mode again in the late night after sad assassination of a pro-EU British MP and an unconfirmed market talk that in this terrible scenerio, Brexit referendum may be put off and all types of campaigns will be hold until the vote on 23-rd June (??).

But its not confirmed that the attacker was indeed shouted "Britain Only" at the time of this terrible incident and it was related to his Brexit drama at all, but the implied probability of the "remain" scenario increased dramatically as a result of this sad incident.

But, on the other side, if there is no Brexit,then market will concentrate on the other real issues and probability of hawkish Fed may return again in July-Sep'16. 

Apart from this, concern over China jitters may again be in the forefront amid continuous Yuan devaluation and debt bubble.

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