The yesterday's rate cut fever is over. The market performed with a lot of volatile movement among bank stocks and finally they won with a considerable profit in bank stocks. While looking in to the Nifty future, yesterday it showed a Open-High and made an intraday fall up to 8540 level. I also made a price gap of 96 points of recovery from the day-low, this happened with the help of select stocks and some of the bank stocks.
The market witnessed a high range of volatile movement in bank stocks,particularly in PSU banks except Union bank (this bank stocks has given a sum of profit of Rs 1.2 Lakhs for our Casino option team,high risk traders on a single day).
Today the following levels in Nifty can be considered for making Long or Short with respect to the market movments.
Go Long above : 8575
Go Short below: 8488
The following strike prices can be considered in option segment for intraday trading.
Call Option: 8700CE
Put Option : 8600PE
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