Hi Good Morning
As per my view the market took the resistance on the bank nifty around 41800 and hits the new 52 week high at around 41850 and also the nifty took the resistance at 18100 then we see a selloff from that levels which is nothing but the profit booking because 1 of the indices hits the new high so this is a normal process and the data formation is negative since the bank nifty hits the new high and we have highlighted that also in update and the whole day belongs to the consolidation and we see a short covering at closing so all this is as per our view and we haven't shifted our base level for 17775-17825 and we have holding that view for today as well and may be the day belongs tp the consolidation i both the indices trade in range but the action may in seen in stock / sector specific
so our view is that for today avoid the options in indices and but at the support levels we may see a dip towards that level so bounce comes
If we talk about stock / sector specific so the data of Energy , PSU-Bank , PVT-Bank , FMCG , Cement , Realty Consumer durables Capital good looks because sectors leaders looks good so keep an eye on them
Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered