Nifty and Bank Nifty Overview For coming Last week of May : How to Have Profitable INDEX trade

Nifty and Bank Nifty Overview For coming last week of May : How to Have Profitable INDEX trade.

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Three important events or hovering fear are to be kept in mind, which may surpass  technical jargon for Nifty and Bank Nifty.

1)   Rising tension between US – china trade relations

2)   Indian china Ladaakh Border clashes and real intentions of china.

3)   FII’s consistent Selling  in Month of May

Last weak Market on Monday was not at all happy and gave big red signal to govt’s 20 lacs crore package and there was a significant move around 200 negative points, which made market touch to 8800 levels.

This week Nifty Likely Territory of trading May be in range of 9000 to 9500 as monthly and final expiry of Nifty and Bank nifty is scheduled at the same time it will be a four day working of market.

Highest Open interest at 10000 call option has piled up but that is of no importance as premium is quiet low ,second important territory is 9000 put and 9500 call option ,where OI has surged.

One Noteworthy thing will remain throughout this week is that there may be 250-300 points on either side based on news. More than 15000 crore upfront selling was there last week by FII’s and despite of that market could hold level of 9149.Nifty also carrying very strong support zone of 8800-8850

Bank nifty consistently remained in oversold zone from quiet long time ,data suggest that from last three weeks it has fallen from 21000 to 17952 level, so any positives or shift towards territory of 19500 may trigger sensex for 200 points,

Any of new positions of buying  in Nifty will be welcomed for holding purpose from territory of 9000-9100 and 9250 will be crucial resistance ,once crossing it with good marks , it may drive upto 9450.