OI in Nifty futures still hovering around the 20 million mark and VIX hovering around the 22-23 mark
This week is expected to be exciting as far as trading is concerned and critical levels and outlook remain unchanged from previous post;
Critical Support for Nifty is in the 5032-5092 band and 5348 is critical resistance on upside
Critical Support for BNF is 10150 and 10750-10800 is critical resistance on upside
It is interesting to observe EOD charts for CNXIT for the last 1 year; come INFY results and it drops big time, weakness follows up for 2-3 more sessions and then slowly some short covering comes in thereby helping the index stage a pullback
As long as the critical supports hold out for Nifty and BankNifty, risk-reward ratio is in favor of Buying the Dips IMHO
For all our dear readers who keep asking yeh IMHO kya hai yeh IMHO - iska ka matlab hai In My Humble Opinion :D
Other Acronyms used frequently on our blogs
AP = Aatma Pranaam [Courtesy Suraanaji]
HHHHHH = Ha Ha Ha - Ho Ho Ho [Courtesy Harshal bhai and Raghuji]
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