Our view of the last 3 days being validated now. SgX showing a cut of 370 points. Said so many times, these gaps on the rally won't sustain and now we are seeing the result.
Pls refer last Friday's comments. The range is clearly set between 17200 and 17900. If we break 17200 levels , we can and should have a deeper cut. It by no means a scary situation.
#Nifty. Range is difficult, do dome levels for you. If we hold 17180, then we can see some bounce. If we drop and stay below 17130, we can see some deeper correction in coming days towards 16900.
BankNifty. The Index should be weaker today. If it holds 38500, it's fine else we can see levels of 37100
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Derivative. Data formation is negligible but on the sell side in options.
We book our shorts today. TCS, Bajaj Finserv and 18000PE. And then we wait for some clarity.
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