Week has started with the bears roar & took nifty below the 9800 mark. Bears dominated the bulls in the last minutes of today’s trade and dashed any hope of a recovery, dragged largely by a fall in midcaps and banking stocks. The Sensex was down 267 points at 31258, while the Nifty future closed down 90 points at 9764.Nifty future opened at 9869 made a high of 9884 & low of 9755. Bank Nifty future has slipped in negative zone trading at 24038 level, down by 36 points. Bank of Baroda and PNB are top losers in the banknfity trading in negative territory by more than 2%. Federal Bank, IDFC Bank and Canara Bank are also trading in red by more than 1%.Short-term outlook for the market remains positive till Nifty future trades above 9700 levels and is expecting to come back to comfort zone of 9900levels in the short-term. 9700 -9900 levels in strong support and resistance levels respectively on Nifty based on derivative option open interest data for expiry perspectives for this month. Any kind of decline or short term consolidation is buying opportunity for medium to long-term till medium term reverses.
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Resistance: 9800, 9850,
9900
Support: 9700,
9650, 9600
tomorrow market will be recover or not??
ReplyDeleteCONSOLIDATION IS THERE IN THE MARKET TODAY. NIFTY FUTURE IS HAVING STRONG SUPPORT OF 9800. IF 9800 BREAK THAN DOWN TREND CAN EXPECT.
DeleteI HAVE BANKNIFTY 24600 CALL POSITION FROM 65 AND IT IS 31ST AUG EXPIRY CALL.
ReplyDeleteTELL ME WHERE SHOULD I PUT TGT.??
MARKET IS IN CONSOLIDATION MODE. DON'T WAIT FOR HUGE PROFITS.RIGHT NOW BANKNIFTY 24600 CALL 31 AUG EXPIRY IS MOVING AT 42,YOU MAY HOLD IT & NEAR 80 U CAN U BOOK PROFIT.
DeleteTHIS MONTH OPTION STRATEGY PROFIT 58625 IN JUST 1 LOT. CHECK OUT STRATEGY PERFORMANCE ON OPTION TRADING TIPS
ReplyDelete