My view on Nifty remains bearish. If nifty breaks lower level of 10198, we may see 10081/10060 from where one can expect support.
Any bounce back is just a sell on rise. Be alert.
Bank nifty has support at 24250, which has been the recent low formed in this week. If that is broken then we may see BN drifting down to 23906.
Clue for trade: Wait till 17th (next weekly expiry). There are bright chances of short covering from 19th onward. We will get a much clearer picture when we are near third week to reasonably predict the expiry numbers of nifty and bank nifty. It is too early as the VIX is high.
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