The world markets are still trying to get a hold of rate hikes and are trying to adjust. The immediate effect is on currency which is getting weaker by the day. The overall structure of the markets looks good do dips are buying opportunity.
Nifty. The weekly low is 17429. If we break and close below 17450, it would be the closure of all long positions. It is a make or break level. On the upside, resistance is placed at 17750 to 17800 levels. This is the broader range for the day and the week.
BankNifty. We have 2 rejection weekly candles on Bank Nifty after a double top. If we break 40300 then we have straight fall towards 39650. Upside is capped at 41000.
Derivative. Data is continuously on the weaker side and now it is net short on all parameters. So, clear sell on rise for the day.
Nifty. The weekly low is 17429. If we break and close below 17450, it would be the closure of all long positions. It is a make or break level. On the upside, resistance is placed at 17750 to 17800 levels. This is the broader range for the day and the week.
BankNifty. We have 2 rejection weekly candles on Bank Nifty after a double top. If we break 40300 then we have straight fall towards 39650. Upside is capped at 41000.
Derivative. Data is continuously on the weaker side and now it is net short on all parameters. So, clear sell on rise for the day.
Our clients swear by the accuracy of our Bank Nifty option tip on a daily basis.
