Traders should use any dip for creating fresh longs as the current trend is likely to remain bullish with Nifty moving towards 11,750-11,800 levels in the coming sessions.
After six days of consecutive gains, Indian markets took a pause on October 22 with Nifty ending well below 11,600 mark on the back of a sharp selloff in IT stocks led by Infosys which suffered its worst single-day drop in over six years.
From the derivative front, 11,700 levels for Nifty should act as a strong hurdle as of now as call writers are seen adding hefty open interest build-up at 11,700 call strike.
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