Nifty & Bank Nifty Tips
Market is expected to open gap down today morning.
We had a range day with moves on both the sides. We don't expect follow up selling on TCS today, intact we hope for a small reversal. We are still not clear due to weekly breakout levels still some distant away. The range is clear for the day and should be the same for the week. You will see lot of sector rotation with small target trades.
It would require deft and quick entry and exit for traders to make money intraday. Auto sector has given a clean breakout and should do well today. We expect a stock specific day.
Nifty. Nifty range is clear. 16050 to 16250. This 200 point range should hold.
BankNifty. Interestingly poised. If 35000 is held for 2nd day in a row, we can see higher levels towards 35700.
Derivative. It happens in range markets. The data for yesterday was weak but overall data for the week is bullish.
Buy on dips if opens gap down.
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