tg-me.com/call_put/14933
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Good Morning Members,
This is for your Educational information and my personal observation (Not a advice), today negative opening is expected in NIFTY on positive Local & Neutral Global Cues. The overall Intraday trend of the market is neutral, however the Data suggest Buy on Dip & Sell on Rise Strategy. Presently NIFTY is trading at levels of 22519 indicates nuetral to positive Sentiments. Cautious approach is required in making positional shorts. Looking at the local & global cues and data, NIFTY shall trade in a range of 22360 - 22650 In a medium term sentiments of the market are positive due to mixed cues like positive growth in Indian Economy, increase in Crude Oil prices, Inflations in Europe & US and further chances of increase Rates in USA are less in current CY, Overall high inflation globally, weakness in global economies & Sector Specific News. In the medium term the Support has shifted to 21500 and resistence at 23500. Presently market is reacting more on sectoral churning, News and the same trend shall remain in the current Series also. In a Medium term prices of crude oil prices may go up on middle east instability. In medium to long term effect of MIddle East crises, Ukraine war in slow and steady recovery in global economy excluding India, Currency Volatility, stable Crude oil price may have impact in the market. Put Call Ratio of 0.71 is at a comfortable levels in NIFTY and VIX of 11.53 is at a comfortable levels. Sector to watch today are Banking, AUTO, IT, NBFC, Banking, OIL & Gas and Metals. Day's NIFTY resistence level shall be 22565, 22605, 22650 and support shall be 22470, 22425, 22375. Day's Banknifty resistence level shall be 48700, 48850, 49000 and support shall be 48400, 48250, 48100.
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NIFTY FUTURES RANGE
Day's Approach : Buy on Dip & Sell on Rise
Day's Small Range : 22550 - 22650
Day's Medium Range : 22500 - 22700
Day's Long Range : 22450 - 22750
BANKNIFTY FUTURES RANGE
Day's Approach : Sell on Rise
Day's Small Range : 48550 - 48850
Day's Medium Range : 48400 - 49000
Day's Long Range : 48250 - 49150
BY CALL & PUT ( NIFTY OPTIONS)
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