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It's a buy on dips market now: Nirmal Bang

Nifty has a strong support at 9540/9500 levels

Nirmal Bang  |  Mumbai 

Buildings are reflected on the glass windows of the NSE (National Stock Exchange) building in Mumbai (Photo: Reuters)

is expected to open on flattish note and likely to witness range bound session. Technically, it has formed again a new high at 9649.6 levels indicates that the uptrend is intact and and if any correction is witness its definitely a buy on dips market. 

The index is likely to carry this positive momentum towards 9670/9700 levels. On the flip side, it has a strong support at 9540/9500 levels. As long it stay above 9540 mark one should hold the long positions.

ICICIBANK & RELIANCE calls of strike 330 & 1360 respectively were amongst the most active Calls whereas HINDALCO & ICICIBANK puts of strike 200 & 320 respectively were amongst most active Puts.

IOC & JETAIRWAYS are likely to show good strength whereas BANKINDIA & GODREJIND is likely to show weakness in today’s trading session.


Source: Nirmal Bang

First Published: Thu, June 01 2017. 08:39 IST