After a super Friday, wa may have a so-so Monday buy Sgx Nifty is recovering. This is markets for you. Such high levels of volatility happens in a divided market. It happens when the underlying trend and price action does not match. The strength of the markets is not by the index level but by other factors like advance ratios, highs ND lows etc. Last week, I wrote about consolidation in a range, these sharp moves are part of it in a range of 17000 to 17500. Donot forget to check our Bank Nifty option tip for today and be a part of winning league.
Nifty. As per the derivative data points shared on Saturday, Nifty should remain in the range with support placed 17050 and resistance at 17350. I do not Nifty to open lower than 17100 today.
BankNifty. The reversal gVe 1000 pointsbon Friday. The levels are clear. Support is placed at 38600 and resistance at 39600. It should spend the day in this range.
Derivative. Data is positive for the week. Some fresh buying along with short covering is giving an indication of buy on dips.
Nifty. As per the derivative data points shared on Saturday, Nifty should remain in the range with support placed 17050 and resistance at 17350. I do not Nifty to open lower than 17100 today.
BankNifty. The reversal gVe 1000 pointsbon Friday. The levels are clear. Support is placed at 38600 and resistance at 39600. It should spend the day in this range.
Derivative. Data is positive for the week. Some fresh buying along with short covering is giving an indication of buy on dips.
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