Markets opened on a weak note yesterday and bears dominated throughout the day without any bounce and pushed Nifty to test sub-4800 levels.
The bounce beyond 4900 levels did not happen and it looks like bears have established an upperhand for the expiry.
There might be a bounce till 4850 levels and even a close around that level, but most likely bears will take control for the expiry tomorrow and push Nifty below 4800 levels. This is all the more possible if Nifty is unable to move past 4884 in today's trade. The option data saw accumulation in 4900 calls and 4800 calls as well yesterday which could be due to writing.
Resistance levels : 4832, 4850, 4884
Support levels : 4805, 4785, 4738
-Happy Trading
No comments:
Post a Comment