The market will open a gap down as USA markets are down and if the mother market is down, we will also see a gap down opening near yesterday day low. However, market will recover after the first half an hour.
Volatility will continue. The overall trend is up but data formation suggests intraday volatility to continue. Clear buy on dips. The focus should be on Oil and Gas sector for swing trades along with NBFC. IT remains weak along with Pharma. The leader is clearly the bank Index. Banking stocks have been showing a lot of strength and any recovery in the markets will be led by banks.
This year will be marked with volatility and hence position sizing becomes very important. Clear buy on dips.
Nifty. Support is placed at 18080 and resistance at 18170. Above 18240, we can see a sharp move towards 18350 levels.
BankNifty. Support is placed at 42850 and resistance at 43600. Do not short Bank Nifty.
Derivative. Data is mixed with a lot of Index shorts but a lot of stock longs. It will be highly stock-specific moves as options data suggest a big intraday range.
This year will be marked with volatility and hence position sizing becomes very important. Clear buy on dips.
Nifty. Support is placed at 18080 and resistance at 18170. Above 18240, we can see a sharp move towards 18350 levels.
BankNifty. Support is placed at 42850 and resistance at 43600. Do not short Bank Nifty.
Derivative. Data is mixed with a lot of Index shorts but a lot of stock longs. It will be highly stock-specific moves as options data suggest a big intraday range.
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