"BUY NIFTY 11600 PUT 25 APRIL @ 48 TGT 60 /80"
Bears continued to grip
the markets in Tuesday’s session also…!!!! Nifty came below 11600 mark. After
opening at 11612 nifty made a high of 11645 & came down to 11564 &
finally closed at 11576. total 81 points nifty has moved in intraday.
As we are in the expiry week of F&O April series volatility may continue in the coming session also. Support for Nifty is at 11550 and if that breaks then we can understand the next leg of downside. There can be some stability only if Nifty manages to respect 11550. A sustainable move below this would result into an extended correction. However, in my sense, Nifty would probably move higher and immediate resistance is now placed in the zone of 11675 - 11750 levels.
As we are in the expiry week of F&O April series volatility may continue in the coming session also. Support for Nifty is at 11550 and if that breaks then we can understand the next leg of downside. There can be some stability only if Nifty manages to respect 11550. A sustainable move below this would result into an extended correction. However, in my sense, Nifty would probably move higher and immediate resistance is now placed in the zone of 11675 - 11750 levels.
Resistance: 11630, 11670, 11700
Support: 11570, 11550, 11500
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