MARKET OUTLOOK ON 20th January

Posted By : Kishore B.S

MARKET OUTLOOK ON 20th January

In Thursday’s market outlook we clearly mentioned that Nifty will be volatile and buy call on Bank Nifty will be only above 11140. But bank Nifty on intraday traded above 11140 but did not close above 11140 to buy.

Today the market expects to open on flat note on the cues SGX Nifty down by 10 points. However on the technical front Nifty has to break 6200 level to take a short position. Its important to note that the financials and banks are looking very weak. A week back we recommended going short on bank nifty and also advised to hold till expiry that is working out. In today’s trade also if Bank Nifty shows weakness we recommend to buy some put option or go short.

 

Cheers  !!

Team SMI

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