#NIFTY50 Index likely made an interim top ahead of many crucial events due in coming weeks. As long as 22500 not revisited in the index, the secular uptrend likely tend to reverse with a move towards 21000 likely in coming sessions. Interim Resistance likely around 22130 with major around 22300. Any pullback likely sold out in current setup, with heavy selling below 21900 likely. However, having said that unless VIX is above 16 and sustain any selling likely absorb as far index is concern. Volatility likely to stay with both sided moves expected going ahead.
#NIFTYBANK As last updated below 47300 index fell with decisive move and gave almost 1000 pt move downside. Banks could hold near 46300-170 region and may outperform Nifty, still index pain could worsen below 46170 for a move towards 45200 (Likely). Index expiry likely to settle around 46500 with deviation of 200 pts either side.
P.S - Trade with caution and risk management.
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