yesterday we saw that the market broke the level of 17717 and fall till 17550 as the put base of the expire lies at the level of the 17500 which is 1cr and the fall lead by the global fears
the Us market after 700 points downmove consolidate and closed in red
The India VIX is rise yesterday at the 15 levels
Now we talk about the Nifty and Banknifty:-- Nifty:-- The support is at 17500 but we will broke this too as the data is suggesting and the ultimate target is at 17350 which is the 200SMA and as today is the expire so the sell on rally till 17350 is the strategy
Banknifty:-- The support of Banknifty is at 39500-39300-39100 and if the put writer unwinds too sharply then we will see the level of 38800 too
Note-- all these levels are for today's expire only i am writing in detail as yesterday we broke the small range and this is the budget day low which is very sacrosanct we will see many upmove as we will in overshort zone but the market will not cross and sustain above the yesterdays high and VWap
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered
Not
today's high is very important as we are seeing the short covering
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