Nifty

Nifty our view remains the same for the past 3 weeks. Longs only until 21850 is breached on a weekly basis. Although new ATH has been formed and we expect it to go on the upside we should be cautious while trading as profit booking may occur at any point and will witness a little fall which may cause a panic in the market. But we are solid are for the month with 21500 as very good support. Good trading opportunities are available in nifty with a very good premium.

Banknifty

Banknifty is same view with different week. Until 48300 is breached on the upside we ain't changing our bias. Safest play would be a strangle or condor with equal premium on both the sides. But this week's range has been reduced a little than last week with downside support being 45600. So decent trading opportunities may prevail in terms of risk to reward. Again it maybe very volatile to handle.

~PR