As the markets gets stuck in a range with gauge of fear and negativity taking over, the start of monday session can be on a weak note taking nifty to test 17150-17050 levels and bank nifty towards 37200-37000 levels where exists supports and buying can emerge with stiff volatility
Technically the zone of 16800-17000 remains crucial on nifty and 36800 remains crucial for bank nifty which has provided supports in previous sessions and can provide buying support to the markets
However the infringement of the above levels opens lower gates for the markets
Since too much fear now takes over , the viable strategy may be a buy for a bounce for 17500 on nifty and 38000-500 on bank nifty with buying in high rsi and vix stocks for a bounce and markets may surprise on the higher side
Commodities remains a sell on rise in bullions, base metals and energy
February expiry may witness a 500-600 points move in nifty along with 1500 points in bank nifty
Stocks to watch
Buy nifty and bank nifty
Buy nifty 17200 ce 24 feb
Buy bank nifty 37600 ce 24 feb
Buy mcdowell 830 ce
Buy fo icici bank
Buy cash speciality restaurants
Sell crude , gold , silver mcx
