Nifty

Nifty is still on its bullish momentum. Previous week's low is a very good support to be watched out for. View maintains as usual with no shorts and only longs. If a closing above ATH is made can expect a momentum on upside again for the week.

Bank Nifty

Bank nifty with same view. Expect it to be volatile and struggling to move higher when compared to Nifty making ATH's. A smart play would be playing it on both the sides with equal premiums on both the side. Until 48300 is taken out on a weekly basis I personally find it diffcut to see Banknifty moving higher on the upside. Once it is taken out can expect a good momentum for few weeks to follow. Downside being 44600 the range is huge which makes it difficult to trade. Personally found it difficult to manage position taken on Friday so would be skipping it and focusing only on Nifty.

Note: This week is the final expiry where Banknifty contracts end on Thursday as it is monthly expiry.

~PR