I have a near term bearish view for nifty.Immediate resistance of nifty spot is placed around 10300-10330 levels.Only a daily close above 10330 can confirm that the near term trend is positive.
A failure to break 10300 levels can drag index downside.Supports are placed near 9990 levels.
Tomorrow as it is a weekly expiry market can be very volatile.Use every rise to create intraday shorts.I expect nifty to close below 10050 to 10000 levels.
One can buy 10050 puts if market moves higher .This is recommended only for tomorrow expiry intraday.
On the other hand if your risk appetttite is very low one can try going short in bank nifty .Bank nifty fut June resistance is placed around 21590 range.Above that 21700 levels.One can consider shorting bank nifty at that levels for intrady.I expect bank nifty to close below 20700 levels. Weak hearts are advised to take banknifty 21000 p.e when markets move higher and hold till tomorrows expiry
A failure to break 10300 levels can drag index downside.Supports are placed near 9990 levels.
Tomorrow as it is a weekly expiry market can be very volatile.Use every rise to create intraday shorts.I expect nifty to close below 10050 to 10000 levels.
One can buy 10050 puts if market moves higher .This is recommended only for tomorrow expiry intraday.
On the other hand if your risk appetttite is very low one can try going short in bank nifty .Bank nifty fut June resistance is placed around 21590 range.Above that 21700 levels.One can consider shorting bank nifty at that levels for intrady.I expect bank nifty to close below 20700 levels. Weak hearts are advised to take banknifty 21000 p.e when markets move higher and hold till tomorrows expiry
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