The markets reacted right from the levels mentioned and couldn't cross 17666 on daily basis on nifty and saw a swift sell along with bank nifty achieving our logical targets of 17400 and 37200
Technically supports exists at 17300 and 36700 on nifty and bank nifty and may see cushion buying at those levels with stock specific action with metals, power, pharma in buying phase
Nbfcs, finacials may witness selling pressure
Going forward for few sessions index is likely to remain in the range of 17300-600 for nifty and 36600-37400 for bank nifty with a consolidation phase
Mild and broader opportunities will be seen in stocks and options which needs to be caped
Commodities remains subdued in base metals, energy and bullions
