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India’s one of the most prestigious sectors in which a person can build there is without a doubt Indian Navy.

DRDO or Defence Research and Development Organisation is one of the departments that are supervised by the Ministry of Defence.

Nifty ends the week with an Inside range as muted cues amid Global geopolitical tensions remain intact between the U.S and Iran, U.S China Trade war Tariffs and the ongoing G20 meeting. The market is awaiting any positive outcome from it while at the same time the market is also embracing for the event that is about to shape the trend for future, in essence, The budget.

As per price action, Nifty was pretty much within the range that we have seen in the previous week and managed to recover the losses marginally. Since it was the monthly expiry week, we have seen writers eating away the premium. As per Derivatives data, Nifty managed to have rollovers of 80% which is above its 3 months average.

McLeod Russel has been suffering in terms of stock valuation as the company is troubled by high debt. The management announced last year about its plan to reduce debt by selling assets but the progress on that front has been slow. In the recent months, many rating agencies have reduced ratings for the company and this has led to further erosion of investor wealth.

As McLeod Russel delayed the audited yearly results, the stock suffered massively over the last one month. Investors continued selling the stock and it faced several circuits during June.

However, as the company is expected to be announced on June 29, the last two trading sessions have witnessed upper circuits. Yesterday, McLeod Russel closed 5% higher and majority of trades were executed at the higher levels.

Real Estate sector in India has been witnessing strong sales in the recent months and metropolitan cities have registered lower inventory. As per the latest reports, Bengaluru is leading the metros with 44% decline in unsold inventory. As the real estate sector started feeling the pain few years back due to high unsold inventory, many builders stepped back from their future projects. Some companies delayed their projects as consumer demand declined. As per latest report released by ANAROCK, Bengaluru has recorded 80 percent rise in sales during the first quarter of year 2019.

Nifty managed to hold 11600 and rebound to close tad below 11800. A bullish engulfing pattern on the daily scale is seen which is a bullish reversal pattern. This is the second time we are seeing this pattern emerging from this level. Today's price action/candle body has covered the entire trading range of the previous day which indicates that bulls are present between 11650 - 11750. Though they have not been able to breach 11850.

Prices are stuck between 20 days MA which is placed at 11856 and 50 days MA which is providing support at 11796. The underlying signal still indicates a Buy for short to medium term. Also, Derivatives data, ahead of Monthly expiry, points out the range for the market to be 11700 - 12100.