Nifty and Bank Nifty futures fail to retain the 10600 mark and it was a doji close in nifty and 100 points down in BNF.
The movement in Nifty from 1.45 PM onward clearly suggest bulls giving way to bear to enter. Check 10400PE May series to confirm.
The major component Bank nifty is in the opposite direction while nifty is making all attempts to move forward.
Whether Bank Nifty is going to join Nifty to move towards 10640-70 or will there be a correction in view of expiry. We have to wait and watch!
The expectations are that nifty may go further up! It has duped all call holders of HDFC Bank today and TCS started rolling down after crossing 3500 mark.
At this juncture we should not throw our opinion about the moves. Better to watch and be with trend!
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