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. 
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