Nifty and Bank Nifty Daily Sentiment oscillators are holding positive and currently. Minor Resistance zone coming around 7870 and 16800 respectively. Breakout is likely to be on the upper side once the minor resistance zone taken out.
CNX Realty index appear to be oversold , bottomed out and trend in CNX Realty index is likely to favor upside and more possibly could outperform CNX Nifty.
Nifty Option – Open Interest Lookup
Open Interest figures shows low confidence among put writers and call writers however currently writers are not active in the zones 7600-8000. so we can expect a range play between 7600-8000.
– The country’s current account deficit (CAD) narrowed to $6.2 billion (1.2 per cent of gross domestic product) in the quarter (Q1) ended June, from $7.8 bn
– July IIP at 4.2%
Important Events to Watch
September 17, FOMC Meeting Two-day meeting
Septmember 29, RBI Interest Rate Decision