We head into a weekly expiry now and with continous selling by fiis and diis using the oppurtunity to buy the same keeping the tussle on in index with giving a upper edge to call writers in index and options
Technically 17800 is an important zone for the nifty whereas 41800 for bank nifty , below which the pressure can increase and if it has to bounce it must from a levels closer to it to face resistance at 18100-200 and 42500-800 , only above it can a broader move be seen
Stocks are also witnessing the same wrath and will follow the path of index
The noise of recession and slowing down with a crisis for the world may loom over the markets keeping the markets swaying both ways
Commodities remains a buy on dips in base metals , energy and bullions
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