morning thoughts... 

We mentioned that zones of 16800-900 on nifty be used to add longs with large call writers at 17200,17300 levels where a reaction can be seen and markets respected the zone and saw the pullback to 17300 on Tuesday and again retested the same levels on Thursday which was the fo expiry day for january and managed to close above the crucial levels of 17000 with bank nifty and psus out performing the markets 

Now we are into a new series with couple of important events ahead which will see large swings in few stocks along with index

Technically 16800 remains as crucial zones on the lower side and resistance is viable at 17500 levels on the nifty front with bank nifty having supports at 36800 with resistance at 39400 levels

As the vix cools down with weekly macd now above 37 and bcc index below 50 which is the lowest since many months, markets will surprise in few days 

Stock specific strategy and thetha options are likely to outperform in the month of february

Sectors like financials, nbfcs, insurance, psus, agro chemicals will outperform the markets

Commodities remains a sell on rise in bullions, base metals and energy

Nifty ce zoomed past 150

Bank nifty ce zoomed to 465

Bank nifty recovered to do 38000

Nifty moved to 17158

Holding few calls in lic and dlf