morning thoughts...

The markets broke the said levels and took supports at 17000 on nifty and 37200 on bank nifty , now the coming session may try to see volatility and capitulize phase may see stability near 16800 zones on nifty and 36800 on bank nifty where immediate supports may be witnessed

Technically the zones of 16800-900 may be used to add longs in stocks and options as the pcr remains in oversold zones and may see a pull back before a retest of lower levels

However strong oi stands at 17200,300 and 400 levels in call writers so this levels may face resistance on the higher side as we are into a fo expiry and truncated week

Very high volatility may be witnessed with pullbacks , shorts and vice versa so quick trades are viable 

Stocks with high rsi like axis bank , chola fin , nbfcs like muthoot fin , bata india , zee tv , power grid has witnessed addition on oi on longs on monday and may see higher sides and pull back in coming sessions

Commodities remains subdued in bullions , base metals and energy