On evaluating the chart of Nifty 50 with option data and USDINR, it looks that market may be range bound till expiry. Wherein the 11300 levels will act as support and 11400 as a strong resistance levels.
Comment:
Something is cooking in the market as the rupee is depreciating every day whereas the market is climbing day by day with low volumes. The question here is that the volumes in USDINR is higher than the Nifty and we expect that a big flash down may be happen in any one of them to give the direction of the either side of market. Either the rupee will again reach towards the 72 levels or Nifty likely to be fall towards the 11280 levels.
Comment:
Finally USDINR returned back and gives way to climb Nifty....... after pushing whole day into sideways.