Trade light as market is lackluster today waiting for a trigger. USA consumer price data on Tuesday May provide a trigger tomorrow.
Nifty Spot View: 13/02/2023
Cmp: 17856.50
Support & Downside Range: 17780—17735--17652
Resistance & Upside Range: 17900—17920—17975--18030
Short Term Trend Reversal Level: -- 18265
Trading View: since last few days we are trading in very narrow range and market does not know in which direction they wants to go but till we are trading above 17652 spot we have to consider that bias is bullish but market facing rest near its crucial rest zone of 17975—18030 and waiting for some sort of trigger for nest move, in today's trading session key level to watch is 17780 spot if we trades below it market goes sideways for the day and remains between 17652—17780 spot whereas till we are trading above 17780 spot bulls will try to break the upside rest zone.
Make use of our daily Nifty option tip and start making profit like a pro trader.
As mentioned earlier, the market will try to gyrate within the budget day wide range. Seller will emerge near the upper end of the range (resistance) and buyers at the lower end (support).
Most hedgers like to sell OTM calls near res and sell OTM puts near sup (depending upon their risk appetite) because of smaller risk involved at those points.
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