Tuesday, October 10, 2017

morning thoughts...

The markets continued to remain volatile and subdued throughout the day with a range bound index trade, however ample opportunities were visible in stock specific and the same pattern is likely to continue in the coming session with a probable two side move.
Technically the markets have seen a good pull back from lower levels and is showing signs of consolidation with resistance at 10050 on nifty front and 24500 on bank nifty from where profit booking may emerge and supports exists at 9850 and 23800 respectively , cnx IT is also gaining strength and may out perform in the coming sessions.
There has been no change in oi addition of calls and puts at strikes of 10000 and 9800 and ecr remains at 1.9 of pivot with retracement levels of 57%
Commodities to remain subdued with pressure in bullions with lower buying in base metals and energy

Mega jackpot diwali yields in tonnns - get ready for next