Karvy Stock Broking :
Nifty View : The US markets have closed on a negative note, while the Asian indices are trading with negative sentiment. Hence, the Nifty is expected to open on a negative note. Trade short in Nifty below 5,480 levels with stop-loss placed at 5,500 for targets of 5,450 and 5,430 levels. Alternatively, trade long only if Nifty manages to cross 5,500 levels with stop-loss of 5,480 levels.
Bank Nifty View : The index ended on a positive note as it surged 0.42 per cent in yesterday’s session. On the F&O front, the Bank Nifty has added 1.43 per cent in open interest on the back of increasing cost-of-carry indicating addition of long positions. The index has its support around 10,870 and 10,800 levels and would face stiff resistance around 11,050 and 11,150 levels.
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