Last week I estimated ranged between 36,375–32,800 and 17,050–15,750 on the Bank Nifty and Nifty, respectively. While the Bank Nifty traded within these parameters the Nifty fell 16 points below the specified support level. This week I estimate ranges between 34,900–31,300 and 16,425–15,100 on the Bank Nifty and Nifty, respectively. Trade light and maintain stop losses diligently. If the volatility spikes, these levels may be violated in either direction.
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