Markets not showing any weakness. Don’t short thinking “Aur kitna Jayega “
It was the 4th expiry happened at the highs of the week. This is a highly bullish structure as said yesterday we have moved away from moving averages and are rallying on gap ups. This is hound to fail in future but currently we trade with the trend.
We have 3 days of holiday, so trades will be low and in a range. Lot of option writing is expected in Index which will limit the volatility.
Nifty. Support is increasing with every expiry and now stands at 17550 for the day and resistance at 17750. We should spend the day in this range.
BankNifty. The Index is moving towards 40000 as per current data points. I don't say, it is a level to trade for buy any dip is a buying opportunity. Support is placed at 38300 and resistance at 39000.
Derivative. Data is positive with long short ratio evenly poised. I always say that for a trend look at futures data and for immediate trend, look at options data.
Trade in a range for small profits.
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