morning thoughts...
The markets remained volatile and swinged like a pendulum and remained range bound for most of the day last session making the coming session volatile and subdued with index yet again swinging on both sides and providing ample oppurtunities on both sides trades.
The technical oscillators on drv is flat and sideways from many sessions and is hovering near the highs of index where the retracement of 61.8% is at 32111 , this is the zone which strikes with macd and faces resistance and profit booking
The index is likely to hover around this levels with a twin pattern of bearish candle on daily charts and back to bullish candle which can test the 50% and 61.8% retracement levels
The doji 3 angle and oscillators are yet again in squeeze mode and a narrow range of markets can be seen yet again
On the down side 9980 will act as supports for the markets on nifty front and 24490 on the bank nifty with viable resistances at 61.8% retracement levels
Commodities will also face narrow range and trade subdued with a minor bounce in bullions , base metals and energy
Buy nifty and bank nifty to lower retracement levels
Futures buy bharat forge , ongc
Buy srt fin 1100 ca , hero moto 3900 ce
Convert series f stock option at 2.50 5 115 ca lots for 5 and 7
The markets remained volatile and swinged like a pendulum and remained range bound for most of the day last session making the coming session volatile and subdued with index yet again swinging on both sides and providing ample oppurtunities on both sides trades.
The technical oscillators on drv is flat and sideways from many sessions and is hovering near the highs of index where the retracement of 61.8% is at 32111 , this is the zone which strikes with macd and faces resistance and profit booking
The index is likely to hover around this levels with a twin pattern of bearish candle on daily charts and back to bullish candle which can test the 50% and 61.8% retracement levels
The doji 3 angle and oscillators are yet again in squeeze mode and a narrow range of markets can be seen yet again
On the down side 9980 will act as supports for the markets on nifty front and 24490 on the bank nifty with viable resistances at 61.8% retracement levels
Commodities will also face narrow range and trade subdued with a minor bounce in bullions , base metals and energy
Buy nifty and bank nifty to lower retracement levels
Futures buy bharat forge , ongc
Buy srt fin 1100 ca , hero moto 3900 ce
Convert series f stock option at 2.50 5 115 ca lots for 5 and 7
