As I have been re-iterating, Nifty and Bank Nifty is "Sell on Raise".
8700 is acting as strong support and it is about to get broken tomorrow,
Once that happens, you can see huge selling since a lot of stop losses would
get triggered and there would be euphoria in the market.
The immediate support would come at 8630-8650. If that fails to hold, the
next support would be @ 8530.
Bank Nifty has strong support around 18,300. So if it comes towards that,
it is good opportunity to accumulate. Cover all the short positions there.
As per option data, the maximum downside that we are seeing for this series
as per today is around 8450. So if market comes at these levels in the next
2 days, instead of getting scared look for opportunity to Buy.
8700 is acting as strong support and it is about to get broken tomorrow,
Once that happens, you can see huge selling since a lot of stop losses would
get triggered and there would be euphoria in the market.
The immediate support would come at 8630-8650. If that fails to hold, the
next support would be @ 8530.
Bank Nifty has strong support around 18,300. So if it comes towards that,
it is good opportunity to accumulate. Cover all the short positions there.
As per option data, the maximum downside that we are seeing for this series
as per today is around 8450. So if market comes at these levels in the next
2 days, instead of getting scared look for opportunity to Buy.
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