Nifty started another round of bullish by gaining 151 points by the end of the day.
Bank Nifty out performed and Bank Nifty alone itself contributed 179 points for Nifty.
Banking stocks rallied due to Financial Minister Nirmala Sitharam Ji is conducting a meeting with RBI about Budget by today.
Last 3 session India VIX fell 10 % and thats an good sign for bullish rally.
Markets might continue the bullish rally today.
Focus on Banking stocks today.
Most of the banking stocks broke the resistances which we mentioned in previous sessions except Kotak Bank and if Kotak Bank breaks 2k level then Bank Nifty will fly.
FIIs bought more than DIIs sold and there is no point of expecting bearish market or correction in our market so market continue the rally with expected volatility.
Coming to Global markets :- yesterday US markets was holiday and currently Dow jones futures is up by 250 points.
All Asian markets are higher/
SGX Nifty is trading at little bit higher.
Coming to India :- Markets may open in positive today based on global clues and mostly we had a news that FM meet with RBI so markets may react for domestic news.
If our markets open with gap -up then observe the first 15 mins moves and decide the trend.
Premiums are very high so erosion may happen very fast so domt try to stay in the trade if it is against to you.
The one who is looking for support and resistances based on OI data :- Nifty had a crucial level at 15,500 CE and support at 15,300 and 15,200 levels.
Bank Nifty had a resistance at 37,500 and 38,000 and support at 37k and 36,500.
All The Best , Trade With Discipline.