Index levels & Views for 23 Sept
Nifty Spot closed at 11274
Resistance at 11530 / 11710
Support at 11300 / 11240 / 11190
BankNifty Spot closed at 28981
Resistance at 29610 / 30200
Support at 29100 / 28835
View: - Friday was a News based move in Market which has changed the texture completely in Market for various stocks and sectors.
Regarding the impact on stocks, I am sharing a link to the ICICI Direct report on the expected impact on stocks in terms of change in Tax Outgo - Link
Index View for today: - Index is likely to continue the up move and pullbacks should be used to buy in Index. Not looking to short this market yet. Keep the trade size low as move size is bigger. Support levels are from Friday's references , upside resistances may or may not come into play today, they are based on the daily charts.
If there is a change in view, i will update accordingly.