Nifty is again back to its double bottom levels on daily closing. There is not much movement seen within the range of 17800 to 18150. The 20-day average is placed at 18140 and so we need a close above this level for further upside possibilities. The index has support at 17800. We see that there could be a possible bounce and only above 18200, we will be bullish.
Banknifty has not given much move in the last 3 trading sessions. Volatility has increased and the move is restricted in the range of 41600 to 42800. The 20-day average is at 42779 and hence unless a close above this level, momentum is tough to gain. We again see there is a double bottom formation in place, so a possible bounce is expected in the Index.
Berlin Stock Options
Banknifty has not given much move in the last 3 trading sessions. Volatility has increased and the move is restricted in the range of 41600 to 42800. The 20-day average is at 42779 and hence unless a close above this level, momentum is tough to gain. We again see there is a double bottom formation in place, so a possible bounce is expected in the Index.
Berlin Stock Options