- Nifty and Bank nifty closed negatively.
- Both Nifty and Bank Nifty PCR is at approx 1 on closing basis, which indicates sideways movement as only responsive buying and selling but not by the big player.
- FIIs were net sellers (1370 Cr)
- FII participation on index seems to be not so much today. 3000 odd contracts added shorting the index and around 8000 contract added writing put options.
- NSE suspends the licence of Karvy stock broking due to non compliance of regulatory provisions.
- it seems there are several banks have exposure to the Karvy stock broking and with the news suspending the licence by NSE, bank nifty is came under pressure.
- Daily CPR width for tomorrow (03.12.) narrowed compare to 02.12 CPR width.
- this indicates tomorrow there could be volatile session.
- Bank nifty could test the level 31660 - 31600 levels tomorrow and this is a major support zone. if it sustain this support level then one can look for buying opportunity.
- Today's high (02.12.) could act as resistance, if that is sustained, we could see some up move.
Disclaimer: I am not a SEBI register advisior, The above trade setup is purely based on my own study and analysis. i am not giving suggestions to buy / sell specific options. please consult your financial advisors / do the due diligence before taking any trade.
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