Money Market by Raunak Singh


● Nifty index opened positive but failed to surpass its previous day high and remained range bound for most part of the trading session. It formed a small Bearish Candle on daily scale however managed to settle above its psychological 11000 mark for 2nd session

● Now it has to continue to hold above 10975 zones to extend its gain towards 11080 then life time high of 11171 while supports are seen at 10929 then 10888 zones

● Max Put OI is at 10600 then 10700 while Max Call OI is at 11000 then 11200 strikes. We have seen significant Put writing at 11000 and 10900 strikes while Call writing is seen at 11200 strike. Option band signifies an immediate trading range in between 10929 to 11171

● India VIX fell down by 1.58% at 12.30

● Bank Nifty traded in a range of around 150 points and formed a Bearish Candle on daily scale

● Now it has to continue to hold above 26750 zones to extend its move towards 27165 then 27400 zones while support exists at 26600

● Longs in Titan, Reliance, BajajFin, Kotak Bank

● Shorts in UPL, ZEEL, Axis Bank, Grasim

Raunak Singh 9830774198

Raunak Singh

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