Bulls expected market to move higher if FED hiked the rate by 25 bps but even after expected rate hike the market was sold with Dow down 1.6% and Nasdaq nearly 2% down. The recession fears amid failing banks is the reason for this sell off.
SGX Nifty
SGXNIFTY is currently trading 51 points down approximately 150 points down from day high.
Nifty Levels based on chart
Nifty Resistance at 17207 and support at 17107
Bank Nifty levels based on chart
Bank Nifty resistance at 40085 and support at 39800
OI based support and resistance for Nifty and Bank Nifty
Nifty has resistance at 17200 and support at 17100
Bank Nifty has resistance at 40000 and support at several levels upto 39600 which has maximum PE writers after 40000
FII data Analysis
FIIs still have 3 lakh naked PE and carried mild bearish positions for todays expiry meanwhile retails are bullish
