NIFTY
Current: 6,101 (futures: 6,107);
Target: NA
Slightly bearish bias. Stop-loss shorts at 6,200 and stop-loss long positions at 6,050. Breakouts could go till 6,275 or 5,925. A strangle of long 6,000p (17.5) and long 6,200c (18.5) is zero-delta. Despite expiry issues it could gain 10-15 on a big swing.
BANK NIFTY
Current: 10,773; (futures: 10,779)
Target: NA
Likely to be a volatile session. Stop-loss shorts at 11,100, and stop-loss long positions at 10,675. Breakouts beyond these could go till 11,250 or 10,400. There is some bearish bias ahead of the RBI credit policy.
Current: 6,101 (futures: 6,107);
Target: NA
Slightly bearish bias. Stop-loss shorts at 6,200 and stop-loss long positions at 6,050. Breakouts could go till 6,275 or 5,925. A strangle of long 6,000p (17.5) and long 6,200c (18.5) is zero-delta. Despite expiry issues it could gain 10-15 on a big swing.
BANK NIFTY
Current: 10,773; (futures: 10,779)
Target: NA
Likely to be a volatile session. Stop-loss shorts at 11,100, and stop-loss long positions at 10,675. Breakouts beyond these could go till 11,250 or 10,400. There is some bearish bias ahead of the RBI credit policy.
The target prices and projected movements in terms of the next session, unless otherwise stated