A change in short term view for Nifty is building
A change in the FII view seems happening. They are gradually getting more bearish (atleast in short term).
The week saw huge volatility of around 800pts. After opening at 10328 levels it saw a min of 9544 and closed at 9958 recovering around 400 pts. The low of 9544 is a strong support for this week and also the month. On the higher side 10150 is where resistance sits for this week. Though on the monthly front 10500 continues to hold the broader range.
Bank Nifty also shows a wider range with 19000 and 22000 as the limits. However, the sentiment of Monday would confirm a narrowing of this range on the lower or higher side.
The week saw huge volatility of around 800pts. After opening at 10328 levels it saw a min of 9544 and closed at 9958 recovering around 400 pts. The low of 9544 is a strong support for this week and also the month. On the higher side 10150 is where resistance sits for this week. Though on the monthly front 10500 continues to hold the broader range.
Bank Nifty also shows a wider range with 19000 and 22000 as the limits. However, the sentiment of Monday would confirm a narrowing of this range on the lower or higher side.
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