• Deepak

Index level for 9 May

Nifty Spot closed at 11359

Resistance at 11405 / 11445

Support at 11315 / 11270

View: - Gap down on 6th May has changed the dynamics of this market. Market has lost the balance post that, which in a way suggest that market was heavily long and was caught off guard. Now we have seen a strong correction in markets with big range days, today is Weekly Options Expiry of Nifty & BankNifty and i expect a contra move ( upside ) in second half in Markets

Nifty Support is around 11315 spot levels, we should be looking to take long around those levels for a second half rebound, that's where the RR is for the day based on reversal candlesticks if seen with defined risk. First level on upside is 11400 & 11450 later on upside.

BankNifty Spot closed at 28994

Resistance at 29140 / 29280

Support at 28835 / 28690

View:- Follow same as Nifty View

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