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Kotak SBI ITC to watched for :weekly Expiry Nifty and Bank Nifty 18th June


NIFTY* - 9881.15
Resistance: 9959-10063.4-10137.9
Support: 9780.1-9705.6-9601.2

*BANKNIFTY* - 20201.75
Resistance: 20539.7-20931.9-21243.3
Support: 19836.1-19524.7-19132.5

  1. US markets ended mixed.
  2. Dow and S&P 500 were trading in Green in the afternoon and fell in the last one hour.
  3. Markets all over the world are highly volatile.
  4. Just two days before, many Asian markets were up by 4 to 5%.
  5. This is a tug of war between Optimism due to Stimulus and Pessimism due to Corona.
  6. Yesterday our markets were trading well until PM spoke in TV.
  7. PM said, soldiers sacrification will go waste.
  8. People assumed that India may retaliate.
  9. Suddenly Nifty future fell nearly 150 points.
  10. Now due to Global cues, down another 70 points.
  11. But as I said earlier, India can not handle China as it handles Pakistan.
  12. Pakistan supports terrorism in Kashmir region indirectly.
  13. But China does not support Terrorism.
  14. Even in this clash, both sides did not use any weapon.
  15. So it was totally unplanned, provoked by words of mouth, impulsive anger, etc that led to this kind of clashes.
  16. Now markets will start worrying about Corona Virus.
  17. Markets are likely to be volatile as usual due to Supreme Court AGR Case.
  18. Kotak Bank is looking weak, broke QIP issue price yesterday.advisable to sell 1300 or 1320 CE
  19. Since there are only 6 trading sessions, time decay will help.
  20. Reliance is still showing some strength but market sentiment is not helping.
  21. Even yesterday it crossed 1630 before coming under selling pressure.
  22. Selling 1740 and 1760 Call options at Rs domain of 11-8 is safe bet
  23. Those who sold earlier  Bank Nifty Call options above 21500 (as Bank Nifty finding huge resistance around 21600 and that corresponds to Nifty 10350)  trades are doing well.
  24. FIIs have sold for less than Rs 500 crores and that is a good news.
  25. DIIs did not buy as markets were firm until afternoon.
  26. If Nifty moves towards 9720, DIIs may step in to support.
  27. ITC broke 180 and it is down more than 15% from intra month high.
  28. SBI also down about 15% down from intra month high.
  29. Kotak Bank down more than 10% from intra month high.
  30. Reliance is helping markets from collapsing.
  31. Nifty future may trade between 9720 and 9920. 


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