Mrket Out Look : Market are continue in trading range and waiting for further break out in either side, However, chances of lower side is very remote. Sooner are later we may seen up side. However, at current level fresh short sell should be avoid and intraday dip to buy side.
Nifty Spot : Consider last week low 9448 is a decent support, weakness only below once break down with volume, higher level crossover 9550-9575 will move further, reversal to sell side.
Nifty Future : Buy on decline with consider support 9450.
Bank Nifty Future : After break down 23500 weakness continue and any fresh up move only above that level, down side support 23050-23000 watch out. Looks some short covering in PSU Banks stocks.
PSU Bank INDEX : After sharp decline from 3900 almost correction 20 percent so at current level fresh short avoid and short covering on the card in front line PSU bankingstocks.
NIFTY Pharma Index : Trend is down but continue holding support level with consider 9300 and resistance 9700.
F&O Data Analysis
Long Side : ITC, OBC, Motherson Smi, BEML
Short Covering : Tata Steel, Aditya Birla
Short Side : Indigo, Jet Airways, IBREAL, LIC Housing, JP Ass.
Highest Call : 9700 Strike – Major resistance
Highest Put :9400 strike -Major Support
Open Interest Spurt :
Aurbindo Pharma 1083
Axis Bank 1038
BPCL -840
BOB 415
Century Textile 536
DLF 1547
Hindalco 1529
ICICI Bank 2551
SBI 2497
Telco 2220
Tech Mahindra 1108
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