morning thoughts...
We said of the bounce and the said bounce came and the markets moved and achieved our logical targets of 8550 on nifty and 19400 on bank nifty and saw some profit booking at higher levels with good movement in banking and nbfc stocks.
Coming session could see continual of the movement but that ought to be range bound move with high volatilty and stock specific moves.
The continual rise in vix and falling macd with constant pcr in derivatives indicates a big move in index with high quantum soon.
On the lower side 8390 will act as crucial supports for the nifty and resistance at 8690 on nifty front , bank nifty will find crucial supports at 18800 levels and intermediate supports at 19150 levels and resistance at 19600-19800 levels.
Individual stocks will be the essence and will see good movements on both sides.
Coming to the commodity markets pressure will continue in bullions with buying in base metals and energy.
Yesterdays calls sent
We said of the bounce and the said bounce came and the markets moved and achieved our logical targets of 8550 on nifty and 19400 on bank nifty and saw some profit booking at higher levels with good movement in banking and nbfc stocks.
Coming session could see continual of the movement but that ought to be range bound move with high volatilty and stock specific moves.
The continual rise in vix and falling macd with constant pcr in derivatives indicates a big move in index with high quantum soon.
On the lower side 8390 will act as crucial supports for the nifty and resistance at 8690 on nifty front , bank nifty will find crucial supports at 18800 levels and intermediate supports at 19150 levels and resistance at 19600-19800 levels.
Individual stocks will be the essence and will see good movements on both sides.
Coming to the commodity markets pressure will continue in bullions with buying in base metals and energy.
Yesterdays calls sent
