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Below is the Views On February Series Expiry May Cause Volatility by Mr. Santosh Meena, Senior Research Analyst, TradingBells
The mayhem in equity markets is continued around the globe due to rising worries of Coronavirus. There is a vertical fall in equity markets as investors are coming out of risky assets where US 10-Yr Treasury yield is falling because of the demand for a safe haven. Uncertainty regarding coronavirus will continue to impact the equity markets while the February series expiry may cause volatility in tomorrow's trading session.
Technically, Nifty ends just below its 200-DMA of 11684 while Banknifty manages to hold its 200-DMA of 30178. It would be important to see tomorrow's market behavior because if Nifty and Banknifty trades below their 200-DMA then major downside will be open where Nifty may head towards 11200-11100 zone while 11500 could be psychological support. In the upside, 11800 will be an immediate hurdle at any pullback while 100-DMA of 11965 will be a major hurdle at any meaningful recovery.
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