Nifty made ATH after US stimulus bill.
Bank Nifty is near to 31k but its not that much easy to break 31k.
All Banking stocks performed very well and KOTAK Bank made another ATH.
Last 4 days Nifty up by 700 points from low and Bank Nifty appreciated 1900 points,
Continues rally is not a good healthy for markets so expect some correction and it may happen by this week or next week.
FIIs keep on buying and DIIs keep on selling , It became an habit for them.
If our markets open with huge gap-up then expect some swings from higher levels before going make a big move towards upside.
If Nifty touches 14k today then the chances of reversal is more so be cautious at higher levels and Bank Nifty will take some deep breath before breaks 31k.
Coming to Global Markets :- US markets closed higher due to stimulus bill and currently Dow Jones Fut up by 135 points as of now.
Nikkei touches last 29 years high and all Asian markets are positive.
SGX Nifty touches another ATH and trading at 14k.
Coming to India :- Nifty will touch 14k today based on SGX Nifty data.
If all banking stocks continued the same action like yesterday then its very easy for Bank Nifty to break 31k.
Its very imp to track individual weightage stocks while trading on index and keep a eye on the.
The One who is looking for Open Interest data :- 14000ce was seen more than 40lakh contracts which will act as very crucial resistance by this expiry. and 13500 pe was seen more contracts which will act as very crucial support by this expiry.
Bank Nifty had a resistance at 31k and if it breaks then expect 300 to 400 points appreciation by today itself and support at 30k.
The overall view of our market is bullish but as per our view it will be buy on dips market so take every dip as an opportunity to buy but its very difficult for beginners to find dips so be cautious for beginners.
All The Best , Trade With Discipline.