Nifty started opening weaker with BankNifty dragging the benchmark on early trades

12:30 Mid-Day Market Analysis & Update:- Nifty Open- 9226.8, High- 9346.9, Low- 9116.5 & Last- 9301.Nifty started opening weaker with BankNifty dragging the benchmark on early trades, NBFC, Banks, Cement & Auto Stocks pushed the Index till an intraday high of 9346.90, a 230 Point Intraday Gain or 2.

12:30 Mid-Day Market Analysis & Update:- Nifty Open- 9226.8, High- 9346.9, Low- 9116.5 & Last- 9301.

Nifty started opening weaker with BankNifty dragging the benchmark on early trades, NBFC, Banks, Cement & Auto Stocks pushed the Index till an intraday high of 9346.90, a 230 Point Intraday Gain or 2.57% was recorded till now.

Most Active Future Contracts are AxisBank, Reliance, BajFinance & ICICIBank on Value while OI Spurt is seen in NIITTech, TataChem, SBILife & TVSMotors.

We have seen OI Spurt in Nifty 9300CE, BankNifty 19500CE & 19800CE. This suggests Nifty may have to get some resistance around 9350, 9412, 9478. Supports are visible at 9274, 9248 & 9212. More updates will be at 14:30. Stay cautious over any position and trade with proper TSL.

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Written by

Premkumar Ramachandran

Premkumar Ramachandran, B.Sc (Maths) Graduate and M.B.A (Finance & Mrktg) by Qualification. Associated with the Financial markets since 1997 and with Equity Broking since 2001 with various Institutions (HDFC, Kotak, ICICI) under various capacities and Exited as Head-Product of Equity and Distribution (Alternate Channels) before starting off this service in 2016. The strong background in Finance with passion to do research on various methodologies has been one of his biggest strengths. Over a period of time, he had developed a trading system using proprietary algorithms for Day and Swing trading along with Order Flow and Market profile system.

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