NIFTY OUTLOOK :
Nifty is range bound and trading in a range between 17700 and 16850 levels.
Currently nifty is trading close to the support of 16850 levels. Nifty formed a bearish Marobuzu candle closer to the support. Although option chain suggest a good support at 17000 levels however with Global markets looking weak there is a possibility that nifty can go further down by 100 – 150 points. Buyers should step in at 16850 -16900 levels.
STOCK OF THE WEEK :
Bharti Airtel : Looks range bound between 740 and 668 levels. Currently price is closer to the support of trading range. Wait for market to recover and trade can be initiated in the stock for a upside of 10 % at 740 levels. Option chain suggests that bulls are still holding the post at 700 levels. 650 is the last support as per option chain.
Note: All view are educational in nature. Please consult your investment advisor before investing.
