Nifty- Index is consolidating within 19650-19450 kind of range after a quick correction from 20K in the index. The structure look weak unless the upper range is broken and closed above it. However, consolidation may continue with intraday moves unless we have a 2 session closing below 19400 for any decisive move towards or below 19K. Option data will take position in today's session with 19400 PE & 19600 CE will be on radar. ##Delayed Morning View##
NiftyBank- Index failure to gain momentum above 45k and fall below 44700 is awaiting for one big move in the market with stop losses likely trigger below 44300 on long side trade, a due correction towards 43700 is awaiting in the index, with view negate above 45200. ##Delayed Morning View##
FINNIFTY- Index may slip below 19800 or may consolidate b/w 20200-19900 kind of range before and on day of expiry due Monday. 19900 PE & 20000 CE having highest OI on closing basis, which is likely shift in case of volatility. ##Delayed Morning View##
IndiaVIX- Failure of VIX to break above 12 keep the market in tizzy mood. Waiting for next trigger.
##Closing Update##
BankNifty is closing below 44300, looking weak from here for Monday and next few session.
Nifty need to break 19300 for another run below 19K, holding quite well so far.
FinNifty as expected breaks 19800 but may be a positive expiry on Monday.
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