Fresh week should start well with some consolidation after a scare of Friday of 346 points. The overall structure is bearish as is data but the catch is looking at the data carefully. We should accept the fact that there is some volatility and change of hands in positions near the top. We started going up from 15900 !!!.
We feel, we will trade in a range atleast for couple of days before some central bank events. It means the trades will be small and swift but can be more. Reliance will try to lift the mkt and infy and TCS may drag the market further. So keep an eye on these stocks.
Nifty. Nifty support is placed at 17450 and resistance at 17700 for the day. It will give opportunity to buyers as well as sellers.
BankNifty. Support is placed at 40200 resistance at 41000. It is a stronger index due to more longs in Bank Nifty than Nifty.
We feel, we will trade in a range atleast for couple of days before some central bank events. It means the trades will be small and swift but can be more. Reliance will try to lift the mkt and infy and TCS may drag the market further. So keep an eye on these stocks.
Nifty. Nifty support is placed at 17450 and resistance at 17700 for the day. It will give opportunity to buyers as well as sellers.
BankNifty. Support is placed at 40200 resistance at 41000. It is a stronger index due to more longs in Bank Nifty than Nifty.
Check our paid bank nifty option tips and make daily profit.
Derivative. Data formation on the looks of it is bearish. But we are seeing a lot of delivery buying indicating change of hands and support.
