Nifty bias shifts to 'Buy on Dips', max pain seen at 24,400; shows F&O data

Quick Summary:

F&O cues for Nov 07: Meanwhile, Bank Nifty PCR dipped to 0.72, reflecting a shift towards a cautious outlook, says Dhupesh Dhameja of SAMCO Securities.

Thus, both price and momentum indicator suggests that the upmove is likely to continue towards 24,756 – 25,000 which coincide with the 40-day average and the 38.2 per cent Fibonacci retracement level, Jatin added.

Hrishikesh Yedve believes that as long as the Bank Nifty holds 50,865, the relief rally will continue.

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Markets: India

Topics: Market news Derivatives market Nifty50 trading strategies Bank nifty trading strategies Long short positions Fund flows Trading strategies

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Published On: 2024-11-07 @ 09:10:13 (5 hours ago)

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