Good Morning,
While Global markets were kind of Flat, SGX NIFTY is signaling a strong opening.
25th Aug, Monthly Expiry, 17700 may find difficult to cross, any opening above 17700 may not sustain and we may see sharp profit booking at opening itself.
While Global markets were kind of Flat, SGX NIFTY is signaling a strong opening.
25th Aug, Monthly Expiry, 17700 may find difficult to cross, any opening above 17700 may not sustain and we may see sharp profit booking at opening itself.
With huge OI on 17600, and 17700 we may see days to trade sideways till the second half. Trapped CE Writers may look to cover position in the second half and that is where we may expect trade to trade on the long side.
Positionally if 17700 sustains and gives close above that, then we may have a short-term bottom in place. But from today's perspective, the expiry move is likely to curtail NIFTY at least till the 2nd half.
Bank Nifty has very very good momentum close and above 39000 we may expect some fireworks, Like I said yesterday watch out for IBANK, and yesterday's post 2PM move was nothing but shorts getting covered by CE writers.
If I have to buy today, will lean towards BNF, & if I have to short will look NIFTY
Looking to trade positively but only if we get good entries on NIFTY. During the day data may drive move on BANKNIFTY but it's clearly, buy on the decline for me
Have a great trading day, Ciao
Looking to trade positively but only if we get good entries on NIFTY. During the day data may drive move on BANKNIFTY but it's clearly, buy on the decline for me
Have a great trading day, Ciao
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