So far our levels are perfectly working for this series also. It has never breached 10939 on the higher side and 10621 on the lower side. Index is reversing from 10832 and moving towards 10730.
AVOID LONG. AVOID CE BUYING OR AVERAGING AT THIS JUNCTURE.
For your knowledge, check the last month low of 10600/10500 PE of January series. On Friday the price has closed above last month low. This means, PEs have given buy signal on a weekly basis.
When this kind of price action happens, PEs will raise sharply for minimum 2-3 trading sessions.
Nifty has support at 10592. If that is broken then we can see support at 10530.
Bank Nifty is still at a comfortable level compared to Nifty. But in all probability BN likely to shed 600 points from current level.
Good Luck!
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