Sell Bank Nifty 12500 call Near 180 Tg 125,95 sl 210
Index
hit fresh intraday low 5852 in afternoon
trade after the government lowered its official growth forecast to between 5.7%
and 5.9% for this fiscal year. Market is eying
to Reserve
Bank of India's Credit Policy review scheduled on Tuesday but it may
not offer any surprise. Pls avoid taking fresh long postitions in Bank Nifty Options,although writing options with suitable stop loss can be good Bet.
Nifty opened near 5860 but could not sustained this level and witnessed range
bound movement throughout the day and ended at 5856.
The Nifty looks well set for another gap up opening morning near 5900. Initially, we need to
monitor the price movement around the first key price zone between 5920 and
5940 if the index stays above 5940 on sustained basis then we can expect it to
climb higher.
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RESISTANCE:5920 5940, 5980
SUPPORT :5880, 5850,
5830
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