Market Outlook of 22nd Feb, 2018.

Expiry day, Volatility persists, index down around 6% down on expiry to expiry basis

Nifty index witnesses sustained selling pressure in all the four weeks of this series and corrected from 11171 to 10276 zones.
Nifty index traded in between 10350 to 10426. It recovered smartly from the lows, but falls is still intact for tomorrow and short term trend is still in pressure.
If the nifty manages to hold above 10430, then a bounce could it to test 10480 – 10500
Support for the Nifty is 10276 – 10220 and 10100
Bank Nifty is also in the bearish mode. Resistance at 25000 – 25500 – 25640
Support levels are 24750 – 24600 and 24240

* This material is for information purposes only and should not be constructed as an offer or solicitation of an offer to buy or sell any securities.

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