The next morning after a late night festival is tough. The overall market structure has turned bullish. At the levels of 17800 near abouts, we have faced lot of resistance. The more important points is the support going up from 17350 to 17600. As and when support moves up, the markets will also go up. The onlybissue is Reliance which looks weak but has support from select IT.
The out performance from Bank Nifty should continue as SBI results are pending. In a rising interest rate scenario, banks do well due to NIM going up. It should continue in the near future.
Global setup is still jittery and news flow based. VIX is high everywhere. Markets are trending based only on expectations but nothing concrete. So, it can reverse any time.
Derivative. Data build up is on the positive side for the week but overall structure is weak. It is clear buy on dips.
Nifty. Support is placed at 17650 and resistance at 17900
BankNifty. Support is placed at 41000 and resistance at 42000.
The out performance from Bank Nifty should continue as SBI results are pending. In a rising interest rate scenario, banks do well due to NIM going up. It should continue in the near future.
Global setup is still jittery and news flow based. VIX is high everywhere. Markets are trending based only on expectations but nothing concrete. So, it can reverse any time.
Derivative. Data build up is on the positive side for the week but overall structure is weak. It is clear buy on dips.
Nifty. Support is placed at 17650 and resistance at 17900
BankNifty. Support is placed at 41000 and resistance at 42000.
Our Dalal Street tips rock Everyday.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
