The markets hovered around 17000 for nifty and 35800 for bank nifty which remains as crucial supports for the markets in the coming sessions and cushion zones for any bounce
Technically the markets remains in oversold zones and may see a bounce to 17400-500 on nifty and 36800-37000 on bank nifty as we inch closer to the weekly expiry
However not much move can be witnessed in individual stocks and they may remain subdued and in consolidation so both calls and puts may not fetch sharp returns
Sectors like power , finance , banking , oil and gas looks strong for upsides and will attract buying in stocks like hdfc , power grid , torrent power , sundaram fin , igl in futures and options
Metals , auto looks weak with pressure in stocks like vedl , hindalco , ashok leyland
Commodities remains weak and is a sell in base metals , energy and bullions ( silver ) , gold looks strong for buying in mcx
800-1000 points move impending in nifty and 2500 in bank nifty soon
Sharp oppurtunities and move in options and futures ahead
Silver looks for a peak out and gold looks set for a upmove
