market update

Market out look dated 22nd Feb

Market open with down side gap and almost made a low 10349
but some support seen at lower level due to short covering and
closed with a gain of 374 points at 10397.     
Bank Nifty  
Also support support seen at 24800  as mentioned earlier in this column and some pull back towards 24950-25000.
What to do   :  
Trend is down and any intra day rally locate shorting opportunity.
Nifty   :  Co snider support 10350  and 10300, break down heavy selling can not be ruled out towards 10200   +.   On the higher side sustained above 10425 up side short covering towards 10490-10500 whereas to decent opportunity to sell side.
Bank  Nifty   :
Support seen at 24800   of spot.
Up side resistance towards 25000   25150   whereas to short side.    
Remain below 25500  down side open towards 24600 24300 24200.
Option  :
Highest calls in Nifty 10500 whereas seen major resistance
and Highest put around 10300  which can be consider support level of today trading as a expiry day.
Bank Nifty   :
25000   is a bench mark whereas highest
calls and puts both are established.    
Holding 25000  some recovery after sharp fall of last few sessions.
but only selling opportunity.
Have a good day. 

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s