Positive momentum continued on the eighth consecutive day and rushing Towards 19000 mark. Actually it was expected today to touch 19000 level, but it could not... Nifty formed a bearish candle on daily chart but made higher high today too. Consitancy is there in the market and buyers are aggressiely buying to pull nifty 19000 & onwards. 18700-600-500 can be a strong support as of now. Heavy call have been written at 19000-19200-500 while put writiers seen at 18500 indicates 18500-19000 range for now. So far bank nifty is concerned, 43500 level is crucial to cross. 43000-43500 range for Bnf.
Undertone of the market is firm and no major fall expected... All sales are being absorbed but investors have to be careful..without stop loss no trade should be taken. Federal Reserve Chair Jerome powell's statement on interest hike boost Dow and followed by Indian browses. In December, RBI may hike only 25- 35 basis points and speed
would be slower thereafter.
Today Tech shares were in demand. We may see a bit of consolidation after the recent surge. However, upbeat global cues would keep the tone positive. Besides, improvement in the broader market participation is added relief. Participants should continue with a positive bias and utilise pause or dip as a buying opportunity.
Enjoy the Bull run with proper safety belt. 💐