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Motilal Oswal Financial Services Ltd

Published on 8/07/2021 12:27:52 PM

NIFTY : 15879 Key Data

Nifty index opened positive despite weak global then took support near to 15780 zones and bulls cheered the index to 15883 levels. The second half of the session witnessed buying interest and the index closed with gains of around 60 points at highest ever daily close. It formed a Bullish candle with long lower shadow on daily scale which indicates that declines were being bought. Now, it has to hold above 15800 zones to witness an up move towards 16000 and 16200 zones while on the downside support can be seen at 15700 and 15600 zones.

Expiry day point of view:

Overall trend is consolidative and need to holds above 15800 zones to witness an up move towards 16000 zones while on the downside support is seen at 15700 then 15600 zones. Buy nearby 15800, 15850 Call or Bull Call Ladder Spread.

 

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Motilal Oswal Financial Services Ltd

Published on 8/07/2021 12:27:28 PM

BANKNIFTY : 35771

Bank Nifty opened slightly negative but strength in banking stocks took the index near its previous day's high levels. It has been outperforming the broader market from the last two sessions and finally closed with gains of around 200 points. It formed a Bullish candle on daily scale and closed above its previous hurdle levels. Now it has to hold above 35750 zones to move up towards 36000 and 36250 zones while on the downside support exists at 35500 and 35250 levels.

Expiry day point of view:

Overall trend is likely to remain positive and need to holds above 35750 zones for an up move towards 36000 then 36250 zones while on the downside support exists at 35500 then 35250 levels. Option traders are suggested to trade with nearby Call like 35700, 35800 strikes or Bull Call Ladder spread

 

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SEBI Registration number is INH000000412

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