Wednesday, August 3, 2016

morning thoughts...

The markets continued its volatility and could not cross our resistance levels of 8750 on nifty front and 19200 on bank nifty and the reaction came at closing hours to see some profit booking at higher levels.
As multiple call writers increase at 8700-8800 levels with simultaneous put writers at 8600-8500 levels will see markets swinging like a pendulum with volatility and stock specific movements in the markets.
On the downside 8500 will act as supports on the nifty whereas 8790 will act as resistance on nifty fronts , on bank nifty 18400 will act as supports whereas 19300 will act as resistance.
Venus and jupiter magnets to retrace inclination at 49 degree is known for deception and wild moves - get ready for the same in nifty , bank nifty , stocks and commodities with oppurtunities in out of money options
Coming to the commodity markets mixed trades with buy on dips is viable in bullions and sell on rallies in base metals and energy

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