Markets have absorbed the Fed Shock and it is expected that RBI will follow the bandwagon and will oblige by increasing the interest rates. Having said so, the relative strength displayed by our markets is not a notional one, it does have strong legs to stand on it. This can be elaborated by the resilience shown by Indian economy amidst chaos across other emerging as well as developed economies.
Coming to the markets and trade for tomorrow. Bank Nifty and Nifty to a certain extent has made a bottom today or max will test that bottom again tomorrow. By EOD tomorrow we will be able to confirm the trend for the next 2-3 months. Our basis is towards bullishness, but we will confirm this by EOD tomorrow.
Option trades for tomorrow (Series 29-September-2022)
Entry 34 || SL 26 || Target 49
Entry 124 || SL 104 || Target 185 and/or 205
Entry 157 || SL 131 || Target 190 and/or 200