Nifty: Karnataka Election results and 11 May 2023 Expiry view

NSE:NIFTY   Nifty 50 Index

- Important levels on Nifty spot for 09 May 2023
Imp levels on the upside 18343 / 18368 / 18401
Imp levels on the downside 18235 / 18208 / 18178

- Nifty rose 50 points with 0.25% rise in Open Interest. Before the Karnataka Election outcome, No signs of panic.
- Just before the Karnataka Election outcome, All 3 F&O major participants have a Net Neutral kind of position in Index Futures as well as Options overall.

Looks like Market participants would make a directional view after result outcome. Lets see whether Markets does any Natak (drama) after Karnatak Election outcome

- Prima facie, on charts, Nifty trying to respect 18196-18235 Gap zone. Till the time above it, Bulls are in control. Bears might get active only if they sense this level is going to give up.

Take care & safe trading...!!!


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