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Karvy Stock Broking:
The US markets have closed on a negative note, while the Asian indices are trading with negative sentiments. Hence, the Nifty is expected to open on a negative note. Trade short in Nifty below 5,400 levels with stop-loss placed at 5,420 for the targets of 5,350 and 5,330 levels.
Bank Nifty View : The index ended on a negative note as it declined by 1.79 per cent in yesterday’s session. On the F&O front, the Bank Nifty has added 9.70 per cent in open interest on the back of increasing cost-of-carry indicating addition of long positions.
The index has its support around 10,650 and 10,500 levels and would face stiff resistance around 10,800 and 10,900 levels.
Angel Broking :
The trend deciding level for the day is 18,144 / 5,462 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,250 – 18,389 / 5,491 – 5,525 levels. However, if the Nifty trades below 18,144 / 5,462 levels for the first half-an-hour of trade then it may correct up to 18,004 – 17,898 / 5,428 – 5,400 levels.
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