Nifty and bank nifty - both not out of the woods. If 11301 is broken then the next support is at 11108. Bank Nifty stares at 28500 which is the next support. Any pull back is purely temporary and expiry related. Do not buy CEs and remember this week has started with gap down. Unless index captures 11399 and 11419 one cannot go long in this market. If 11419 is reclaimed, then expiry could be near 11550. Be ready for another downside immediately after expiry. Till Fed decisions are out market cannot break out. Exercise patience to buy CE. 2nd August likely to be a good day to enter CEs as per chart where PEs likely to go into sell mode.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.