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Below is Comment on Most Mid Market update By Mr. Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services Ltd

Nifty opened flat and has been inching to higher levels but has been trading in a range. The index has surpassed the 20 DEMA and is sustaining at higher levels which indicates strength. Any dip towards lower levels of 15735 can be utilized as a buying opportunity. India VIX is has cool off a bit and is at 20 level. However it needs to cool down below 18 level for stability and a directional move in the market. Now till it holds below 15735 zone we can expect move towards 16000 and 16161 whereas support at placed 15735 and 15650. Market breadth is positive which indicates that there support based buying at lower levels.

Today, we are witnessing positive move in Auto, FMCG, Banking and Financial service, Realty, IT and Pharma while weakness is seen in Metals and Media space.

Bank Nifty opened with a gap up and is relatively outperforming the market. There is some strength visible in the entire banking and financial service space which will support the price s to inch towards higher levels. Bank nifty has taken support at the 20 DEMA and is showing strength in the index. Now it has to hold above 34000 zones for a move towards 34500 and 35000 zones whereas supports are placed at 34000 and 33750 zones.

Nifty opened flat and has been inching to higher levels but has been trading in a range. The index has surpassed the 20 DEMA and is sustaining at higher levels which indicates strength. Any dip towards lower levels of 15735 can be utilized as a buying opportunity. India VIX is has cool off a bit and is at 20 level. However it needs to cool down below 18 level for stability and a directional move in the market. Now till it holds below 15735 zone we can expect move towards 16000 and 16161 whereas support at placed 15735 and 15650. Market breadth is positive which indicates that there support based buying at lower levels.

Today, we are witnessing positive move in Auto, FMCG, Banking and Financial service, Realty, IT and Pharma while weakness is seen in Metals and Media space.

Bank Nifty opened with a gap up and is relatively outperforming the market. There is some strength visible in the entire banking and financial service space which will support the price s to inch towards higher levels. Bank nifty has taken support at the 20 DEMA and is showing strength in the index. Now it has to hold above 34000 zones for a move towards 34500 and 35000 zones whereas supports are placed at 34000 and 33750 zones.

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