In the previous session, Nifty made a high of 10756 and low of 10610 while Bank Nifty made a high of 27080 and low of 26700.
It was mentioned that uptrend could be possible on Monday-Tuesday. From Wednesday to Friday, the market is uncertain. It is advised to short indices at higher levels. Nifty has resistance at 10800 and support at 10580. It is possible that Nifty may breach 10500.
Today, the market may open positive and then witness correction. The trading sessions until Friday are uncertain. Hence, it is advised to be careful with a long position.
TRADING RANGE:
- NIFTY FUT (FEB): 10750-10600 & BELOW
- BANK NIFTY FUT(FEB): 27100-26500
BUY AT DIPS:
- HOEC
- JINDAL SAW
SELL AT HIGHER LEVEL:
- BANK OF BARODA
- UNION BANK
Precious Metals
Positional traders shall close long position in bullion on Friday. Next week, when the correction in bullion comes, you may again buy back position. A correction of 25-30$ is possible in Gold.