morning thoughts...
Markets continues to remain in the trading range mentioned and will continue to witness pressure in the coming session with downwards supports at 17000 levels on the nifty and 35800 on the bank nifty with resistance at upper band of 17300 and 36500 respectively
Technically once 17050 is broken with daily closing , levels of 16800 - 500 will be swift with bank nifty moving towards 34200 if 35800 is breached on closing basis
The inflation is at 30 years high with few countries moving towards a small lock down can trigger the desired fall towards 16500 and 34200 on nifty and bank nifty next week which can be a short term positive divergance and will used to add certain longs in nifty , bank nifty , stocks and options in stocks and index if the panic arrives with short term supports at 16289 and 33900 on nifty and bank nifty respectively
December also stays the month where major fiis are on holidays and they position in ist week of january with financial event in mind
The rising dollar index is at alarming levels and the desired fall looks a step away
20 december remains a crucial gann date with equal importance days in 21-23 dec
Pharma , IT looks strong and would see upsides whereas nbfcs , metals , financials , media , housing looks weak and is likely to seek lower levels in stock futures and options
Stocks like tata steel , vedanta , ibull hsg fin , zee tv , chola fin , canfin , pnb housing looks weak and is a sell in futures and buy in put options
Stocks like sun pharma , infosys , wipro , power grid looks strong for buy in futures and call options
Commodities looks positive and buy on dips in base metals , energy and bullions
A move of 1200-1500 points in nifty setup and bank nifty 3000-4500 points for budget and immediate 600 points in nifty and 2000 points in bank nifty next week
Limited Convert series for 35k into 1 lac and higher via options during same period
After 2020 market bomb , now the bombster options and futures will rock the coming period , register for same and above
