MARKET SUMMARY OF 21 JUN 2019

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The Nifty50 started off selling at the word go and fell further in later part on June 21 after escalating tensions between US-Iran and RBI Government comments.The index closed way below 11,800 levels and formed Bearish Belt Hold pattern on the daily charts and bearish candle on the weekly scale. For the week, the index lost 0.8 percent, continuing downtrend for the third consecutive week.A 'Bearish Belt Hold' pattern is formed when the opening price becomes the highest point of the trading day and the index declines throughout the trading day making up for the large body. The candle will either have a small or no upper shadow and a small lower shadow. BUZZING STOCKS Aurobindo Pharma shares slipped 8 per cent to Rs 579 on the BSE in early morning trade on Friday after the company received a warning letter from US health regulator for its Unit XI, API manufacturing facility in Srikakulam, Andhra Pradesh. The stock ended the day 3.92 per cent lower at Rs 602.35.  Sobha stocks dipped 11 per cent to Rs 500 on BSE on Friday after more than four per cent total equity of the real estate developer changed hands via block deals in early morning trade. By the end of the session, the stock was down 7.39 per cent lower to Rs 520.30.Tanla Solutions shares continued their upward movement, hitting an over 9-year high of Rs 67.20 per share, up 5 per cent on the BSE in an otherwise weak market.