Nifty has closed positives with a positive crossover on 20 DEMA. A slight above in positive on a weekly Options expiry is considered as a positive momentum. The small hurdle at 17950-18000 is to be taken off for further upside, after the Budget and RBI Policy. I personally chose to be bullish after 2 trading days of positive close post the events. The 50 DMA is at 18120, and then a trending momentum could emerge.
On the Banknifty, little more crossover , may be in a couple of trading session can bring back the bulls. The trend will be positive above 41600, for the next rally towards 42500. The breakout will be bigger if the conisation is considered to be a base formation.
|COPPER 23SEP FUT||+0.61 %||+11000.00|
|CRUDEOIL 23OCT 7400 PE||+8.59 %||+1700.00|
|BANKNIFTY 23SEP 45000 PE||+58.73 %||+5550.00|