The yesterday market had a positive bias,but did not show any momentum as far as the bank stocks are concerned. Some of the individual stocks in banking segment made some upside movement but did not lift the entire bank Nifty.
The day high of 18480 is almost close to its opening level of 18400 and it also showed a day low at
18255. This indicates a key resistance is kept around 18500 sub level. The Greece tragedy is coming for shape to make a temporary halt and the delayed FED rate hike and the expectation of mild rate cut in our country will lift the bank Nifty in July series to a considerable level.
To deal the bank Nifty in today's trading the following levels are to be considered.
Going Long above : 18485
Going short below: 18340
The following strike prices are to be considered in option segment.
CALL: 18500CE
PUT : 18200PE
The option writers can consider the following call / put combination with 10 points profit and 10 points as stoploss.
18700CE+18100PE
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