morning thoughts...
The local event in terms of budget finally gets over and the much pre intimated move came in the markets for which we were craving from 20 january and finally we close the same yesterday and now seek new positions in nifty , bank nifty , options and futures.
Nifty has seen a straight rally from our levels to 8750 and bank nifty to 20000 levels
On the upside resistance exists at 8835 levels on nifty and 20600 on bank nifty whereas supports come at perpendicular levels of 2.7% levels below daily moving average.
The pcr on derivatives side jumps to 1.11 and dollar index at 105.
Now the markets needs consolidation and sideways movement before it moves , however strong individual moves will be witnessed.
Commodity markets looks positive and bullions , base metals , energy tends to move up in coming sessions
We close our nifty and bank nifty positions and now get ready for new positions
The local event in terms of budget finally gets over and the much pre intimated move came in the markets for which we were craving from 20 january and finally we close the same yesterday and now seek new positions in nifty , bank nifty , options and futures.
Nifty has seen a straight rally from our levels to 8750 and bank nifty to 20000 levels
On the upside resistance exists at 8835 levels on nifty and 20600 on bank nifty whereas supports come at perpendicular levels of 2.7% levels below daily moving average.
The pcr on derivatives side jumps to 1.11 and dollar index at 105.
Now the markets needs consolidation and sideways movement before it moves , however strong individual moves will be witnessed.
Commodity markets looks positive and bullions , base metals , energy tends to move up in coming sessions
We close our nifty and bank nifty positions and now get ready for new positions
