Nifty is still trading in a 10500 – 10640 consolidation range where quick flip strategy turned to sell mode around 10587 and it continues to be in the sell mode with immediate resistance coming around 10510 – 10523 band in a very short term. Momentum selling stays as long as price stays below 10510-10523 band stays. The Next destination target is to look 10350 levels.
Nifty Daily Sentiment
Nifty Daily sentiment turned negative that indicates a possible short-term positional weakness on the downside. Put writers are aggressive around 10000 and 10200 reference levels where immediate positional supports can be expected for this series and on the higher side 10700 is where call writers are seen. This expiry could possibly move in either 10000 – 10700 or 10200 – 10700 range.
