Nifty Touched 18000 on Index futures. Don't know how many were waiting for it to happen since so long. The beauty of human nature is it forgets easily which can be a trap. Levels are not important, stocks where your money is the only thing you should look at. The portfolio is a reflection of your exposure, risk reward, profile etc. Hence focus on what you have, not on the market levels.
On the charts we are overbought with breakouts and momentum all in play. We have a feeling that we can see consolidation happening before next leg of upmove.
Nifty. Support is placed at 17850 and resistance at 18114. These levels should work for the week.
On the charts we are overbought with breakouts and momentum all in play. We have a feeling that we can see consolidation happening before next leg of upmove.
Nifty. Support is placed at 17850 and resistance at 18114. These levels should work for the week.
Bank Nifty Tips
This looks set for a sharp upmove even after a drop. Most PSU and private banks are looking good on the charts and data which can help BankNifty towards 40k or more.
Derivative. Data formation is interesting. Heavy short buildup in the last 2 days with point of concentration in futures at 17930 and in options at 17900PE. Thus a sharp drop would be a good opportunity to buy again.
Derivative. Data formation is interesting. Heavy short buildup in the last 2 days with point of concentration in futures at 17930 and in options at 17900PE. Thus a sharp drop would be a good opportunity to buy again.
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