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Bull spread on Bank Nifty, recommends Nandish Shah of HDFC Securities
Short covering is seen in the Bank Nifty Futures at lower levels, where Open Interest fell by 1 per cent (Prov) with Bank Nifty future rising more than 500 points from the intraday lows
Short covering is seen in the Bank Nifty Futures at lower levels, where Open Interest fell by 1 per cent (Prov) with Bank Nifty future rising more than 500 points from the intraday lows.
Bank Nifty has formed bullish hammer candle stick pattern on the daily chart, suggesting short term bullish trend reversal.
Primary trend of the Nifty remains positive as it is placed above its 50, 100 and 200 day EMA.
Amongst the Bank NIFTY options, Put writing is seen at 51500-52000 levels.
(Nandish Shah is a technical research analyst at HDFC Securities. Views expressed are his own.)