Market Outlook of 23rd Feb, 2018.
GFS Wealth Creations Suggestions for buy and sell shares..
Volatility reduces, nifty remain in the consolidation phase
Nifty stuck in the narrow trading range in 100 points in between 10320-10420.
If nifty manages to hold 10450 then it would go to 10600 to 10620.
New expiry month starts and data shows max. PUT OI at 10000 and 10200, while max.
CALL OI at 11000 followed by 10700. We still think Nifty is in the bearish mode and test 10100 and 9900.
Bank Nifty has been under performing the nifty index and now need to hold above 25250 to place a short term trend reversal, while a hold below 25000 could drag it towards 24500 and 24250.
* 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.