Nifty:

Current week's Nifty bias according to the system designed is neutral. But we are near the resistance with good momentum on the upside. So defining upside resistance is difficult at the moment. Personally would be looking to sell 21700 puts and would be defending if required. Would be staying away on Monday and assess the price on Tuesday to take up a trade or would rather skip it for the week.

Banknifty:

Banknifty is where the high anticipation lies for us. Being neutral is the best solution for us with 46500 as support and 48300 as resistance. As the resistance has been previously tested and saw a good sell off any momentum on the upside near the resistance should be monitored carefully. Wouldn't be fully defending the resistance rather happy to sell puts and defend the downside with good conviction.

PS: We have a really interesting week ahead. Trade safe and be cautious.

~ PR