Nifty future has shown some respite to bulls till 1.30 PM,, but later on moved towards south direction and closed marginally above previous day close. There could be surprises and frustrations for investors as to why Nifty is not able to move up while all global indices are in green territory. Our market has domestic factors to deal with which weigh high.
I have mentioned my apprehension about BNF not crossing 26500 in November and also not before RBI Policy. I have even stated that BNF is likely to visit 25500-600 before expiry. Everything is happening as per technical if you have followed all the posts.
Nifty likely to correct further up to 10082/9917 while BNF likely to extend downward journey up to 24520/370.
Those deal in options should buy month end PE of 9800 and 24000 for multiple returns.
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