Quote on Bank Nifty : The Bank Nifty index has been trading in a range-bound manner Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 12 June 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Bank Nifty index has been trading in a range-bound manner, indicating a lack of clear direction in the market. This trend persisted during the trading session. The market seems uncertain and cautious as it awaits key events such as the release of CPI data and the US Federal Reserve meeting. Heavy open interest in the 44000 Call Option (CE) and Put Strike suggests a significant level of trading activity and a fight between the bears and the bulls. This indicates that market participants have conflicting opinions and expectations regarding the future direction of the index.
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