The said downfall came and rested right before the last cushion supports mentioned of 16800 on nifty and right above the levels on bank nifty and now the time is ripe for a bounce if it has to come and may come as we head into important gann dates and nifty may just trap put writers at 16800 along with bank nifty which may trap shorts at lower side and trigger short covering above 16900 and major short covering above 17020 on nifty to retest 17300-400 , bank nifty above 37188 will move to 38000-38500 in no time as huge put writers accumulate base with lower oi's
Technically the markets are oversold and may seek higher levels to expand the band, so shorts at lower levels are not viable untill previous lows of 16800 and 36500 are successfully violated
Commodities may see profit booking in base metals, bullions and energy
A 500 points upmove in nifty and 1500 points bank nifty is coming
Golden opportunity for stocks and options with higher vix and rsi to see upmoves
Stocks to watch
Buy nifty and bank nifty
Buy nifty 17000 ce 17 feb
Buy bank nifty 37000 ce 17 feb
Buy lic 360 ce
Buy icici bank, dlf
Buy hindalco 520 ce, mcdowell 800 ce
Sell crude, silver mcx
Buy gold mcx
