Nifty: SGX Nifty is down by 200-230 pts ahead of today’s opening. The Nifty in an extreme volatile move opened with gains, fell from high’s with intraday swing of more than 200 points and recovered thereafter from low’s,ended the session near avg low’s, closed negative with 10 pts, lost 0.16%, VIX fell below 22. Global markets remained volatile, and mixed across the region. Technically, if Nifty breaks 16927 on closing basis the expiry could be near 16600 with immediate resistance around 17070, with expected support comes around 16777 region. Any meaningfull pullback may only sustain above 17000. Index remains sell on rise near resistance, and till expiry both side levels are open to breach. Index likely remains volatile and uncertain on trend till monthly expiry. Intraday, Nifty will have support around 16817, and likely resistance around 16957. As per monthly expiry data 17000 PE & 17200 CE remain crucial strike prices to watch. On an immediate basis 16887 remained supported and resistance around 16957.
(Delayed Update)
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