Today Nazara and Delta corp will be under pressure due to 28% GST on online gaming, horse racing and casinos; food at cinema halls to get cheaper. So chance of making Goa as a tourist hub or as a casino destination is destroyed by a single stroke.
Make money using our bank nifty option tips on a daily basis.
Nifty Spot View: 12/07/2023
CMP: 19439.40
Moving AVG (EMA) 20 Hour & 40 Hour: 19427 & 19384
Moving AVG (EMA) 20 Day & 40 Day: 19068 & 18784
Support & Downside Range: 19421—19390--19350
Resistance & Upside Range: 19525--19610
Short Term Trend Reversal Level: -- 18646
Trading View: In today's trading session key support to watch is 19421—19390 zone as long as this holds bias remains buy on dips and bullish only break below 19390 intraday bias goes sideways to range bound and options writers of 13th July goes heavy on market to eat as much as premium they can whereas upside 19525 acts as immediate rest break above we may move towards 19610.
There is nothing wrong with the on going trend its bullish only, but due to overheated RSI of past couple of days up move we are seeing this range bound move with wild speed so that smaller time frame rsi gets cool off and create a space for next leg up, now its difficult to time till how long we remain in narrow range so till we does not get clarity of the next formation so for equity players nothing worry, all derivatives players reduce little position as today our and USA inflation data and TCS and HCL tech numbers is there after mkt hours so better to stay little light in derivatives rather feeling sorry, and if you already have a small position in derivatives then hedge them either buy put or call sell till tomorrow
