Quote on Bank Nifty : The index is experiencing a tug-of-war between the bulls and the bears Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 24 July 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The index is experiencing a tug-of-war between the bulls and the bears, resulting in a sideways movement.The option data indicates that call writers and put writers are actively participating at the 46000 strike price. This suggests that market participants are uncertain about the direction of the index, leading to a potential sideways momentum.If the index sustains below the 46200 mark, it may open the way for further downside movement towards the support zone of 45700-45000.
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