morning thoughts...
The markets went up in the last session and reacted from the resistance zones of 8200 on nifty and 18400 on bank nifty and same remains the resistance levels in the coming session with the index trying to inch up but will meet selling pressure at higher levels.
Technically the markets ought to remain in a range with buy on dips to support levels and sell on resistance at rise thus giving oppurtunity to both long and short traders.
Broader markets will show more action and will see good moves irrespective of volatility in indices.
Pcr remains constant at 1.05 with increase in call writers at 8200 levels and shedding of puts at 8000 levels indicating a range for the markets.
30 dema and 7 dema also remains above daily average and constant macd indicating range bound moves with the above mentioned strategy.
Coming to the commodity markets pressure is likely in bullions , base metals and energy
Wednesday wealth gains
Sell gold , silver , copper , crude
Buy nifty and bank nifty on dips
Fii Buy lic 560 ca
Convert series buy petronet 380 ca , karnataka bank 110 ca
Buy welspun corp , yes bank , adani ports
The markets went up in the last session and reacted from the resistance zones of 8200 on nifty and 18400 on bank nifty and same remains the resistance levels in the coming session with the index trying to inch up but will meet selling pressure at higher levels.
Technically the markets ought to remain in a range with buy on dips to support levels and sell on resistance at rise thus giving oppurtunity to both long and short traders.
Broader markets will show more action and will see good moves irrespective of volatility in indices.
Pcr remains constant at 1.05 with increase in call writers at 8200 levels and shedding of puts at 8000 levels indicating a range for the markets.
30 dema and 7 dema also remains above daily average and constant macd indicating range bound moves with the above mentioned strategy.
Coming to the commodity markets pressure is likely in bullions , base metals and energy
Wednesday wealth gains
Sell gold , silver , copper , crude
Buy nifty and bank nifty on dips
Fii Buy lic 560 ca
Convert series buy petronet 380 ca , karnataka bank 110 ca
Buy welspun corp , yes bank , adani ports
