NIFTY - Bearish Market ViewThe idea is based on the Elliott Wave Theory. The current upward momentum is very low and the price is moving in a corrective structure. A downward move is likely from the current resistance zone (or a possible likely scenario with 61.8 fib correction).
A move over 18480 invalidates this idea.
Indianmarket
BANK NIFTY ANALYSIS - 09/02/2023Buy Above - 41660
SL - 41580
Targets - 41720,41800,41920,42080
Sell Below - 41400
SL - 41480
Targets - 41320,41220,41100,40940,40860
If Market is Continuing the consolidation it's a tough day to get a profits to option buyers due to Premium Decay is More in Expiry Day
Trade Safe & Happy Trading Guys
Nifty bankHello Everyone,
Today Nifty Bank was trading in a very tight range in the morning session. After than it breaks its support of 41350 and fall unto 41100 after that it tried to rise and breaks its support line of 41350 and move 200++ pts up and hence, ended the market in green.
In this whole fluctuation of today's market over view is set to be bullish for next day. We expect it to touch 42000-42300 range which will show a good market condition in the banking and allied stocks. The impact of budget on the market are seeming lightly today as volatility has decreased quiet comparing to past 4-6 trading session.
So our trading range for upcoming days is between 41000-42000 (+/- 200pts as per India VIX).
Thanks