Wednesday, May 22, 2019

OPTION CALL PUT TIPS FOR 23 MAY 2019

Market fell 1% as nifty & sensex failed to maintain the strong up move which was recorded on May 20, on the back on exit polls for Lok Sabha Election 2019, but in Wednesday’s trade Sensex ends 140 pts higher, holds above 39K ahead of poll results, while nfity closed at 11700 mark.
We remain structurally positive on the market and expect positive bias post elections. Any dip or correction is expected to act as a strong buying opportunity. We expect Nifty to test 12100 -12300 on the higher side, while meaningful support is seen at 11500. Investors are advised to accumulate while traders can use volatility in their favor and follow a buy on dips strategy.
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Resistance: 11900, 12200
Support: 11600, 11500

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