Looking at SgX, 2 things should happen today either we open gapup and build on it trapping shorts or we open gap up build on it and the give a sharp drop and expire as per data.
We are still in our range of 17500 to 17730 which is a no trade zone. I will wait for a decisive move on either side to create fresh positions. Till then, I wait and watch.
Nifty. Support is placed at 17600 and resistance at 17730. Above it open the door for another 150 points.
BankNifty. Support is placed at 39300 and resistance qt 40000.
Derivative. Data is neutral. There are a lot of Put longs which will cover positions on a dip. Positional index shorts won't playout today.
We are still in our range of 17500 to 17730 which is a no trade zone. I will wait for a decisive move on either side to create fresh positions. Till then, I wait and watch.
Nifty. Support is placed at 17600 and resistance at 17730. Above it open the door for another 150 points.
BankNifty. Support is placed at 39300 and resistance qt 40000.
Derivative. Data is neutral. There are a lot of Put longs which will cover positions on a dip. Positional index shorts won't playout today.
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