Dow closed nearly 0.6% up and pre market also it is trading nearly 0.15% up and SGX is up by 70 points. The bias for today is to buy on dips.
Nifty Bank Nifty levels based on chart
Nifty support today will be 16980 and Resistance zone is at 17062 17088 if Nifty manages to sustain above 17088 we can see 17150 Bias today is to buy on dips
Bank Nifty Chart
Bank Nifty has support at 39320 and resistance at 39629 above that we can see 39780
Nifty BN levels based on OI
Nifty is seeing heavy PE writing at 17000 so this will act as support while CE writing can be seen at 17100 which will act as resistance
Heavy CE writing at 39500 shows the fall if any will come in BN above 39620 the CE writers will unwind giving another 150-200 points upmove
FII Data Analysis
Retails are heavily short so first half they will be forced to cover shorts leading to positive momentum fall if any will come in second half considering Finnifty expiry.
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