Nifty View
Global market remained under pressure as FED minutes indicates possibility of more rate hikes. While Nifty is likely to open lower, we expect buying to emerger from lower levels as 19400 Put strike hold substantial OI. For today’s expiry, we expect Nifty settling below 19450 levels
Nifty Spot View: 17/08/2023
CMP: 19465
Moving AVG (EMA) 20 Hour & 40 Hour: 19421 & 19454
Moving AVG (EMA) 20 Day & 40 Day: 19526 & 19361
Support & Downside Range: 19389—19319--19257
Resistance & Upside Range: 19492—19560--19650
Short Term Trend Reversal Level: -- 19650
Trading View: In today's trading session key support to watch is 19389 spot levels after opening if this level manage to hold then we may immediate move upside towards 19520 to 19560 minimum whereas if 19389 breaks and we sustain below it for 15 to 30 mins then ahead of weekly expiry we may again see sideways move and might retest 19319 spot levels and today we may have a non-trending day.
Bank Nifty View
The Bank Nifty closed in negative territory for the fifth consecutive day. For todays session, 43800 is likely to act as immediate support and we believe buying may emerge from these levels.
Stocks in F&O Ban
Balrampur Chini, Chambal Fertilizer, Deltacorp, GNFC, Granules, Hindustan Copper, Indiabulls housing finance, India Cement, Manapurram, Sail & Zee Ent.
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