Our pre intimated move for 16300 pe and 34500 pe nifty and bank nifty does the move and nifty is likely to move towards 15900-800 along with bank nifty at 34000 where shorts may take a rest as there lies a weekly expiry ahead
Technically the markets will move into an oversold territory near 15800 and 34000 and a pull back is not ruled out in index along with stocks which have witnessed the maximum wrath and carnage as intimated last week
With the dollar index on a high with dsi breaking 2009 lows has been an alarming situation from few days
However with easing of crude and the weekly rsi moving into oversold zones can see a pullback with strong volatility
Commodities remains a sell on rise in bullions , base metals and energy
Stocks to watch
Nifty and bank nifty as above
Stocks to bounce from lower levels along with options
Sell crude , silver , gold mcx
