Markets are tying to trade in a range which is consolidation. It is of 2 types.. price consolidation and time consolidation. Hence spending time between 16800/17000 to 17800/18000 is important for market participants to take a breather and review tbeir approach and inveatments.
Nifty. Support is now placed at 17300. Below 17300 we get a sell opportunity till 17170. Resistance is placed at 17500. Break above it will give us a long trade.
BankNifty. 37800 is a strong support which should hold. So, any dip in Bank Nifty towards 38000 or 38900 is a intraday buying opportunity.
Derivative. Data formation is highly weak. But a holiday tommorroe will give option sellers a chance today.
Sell on rise but today should spend in a range and may rise slow and steady and will encounter selling at higher levels
Nifty. Support is now placed at 17300. Below 17300 we get a sell opportunity till 17170. Resistance is placed at 17500. Break above it will give us a long trade.
BankNifty. 37800 is a strong support which should hold. So, any dip in Bank Nifty towards 38000 or 38900 is a intraday buying opportunity.
Derivative. Data formation is highly weak. But a holiday tommorroe will give option sellers a chance today.
Sell on rise but today should spend in a range and may rise slow and steady and will encounter selling at higher levels
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