Interest Rate Saga and its impact on Nifty
We had an eventful week, market participants were waiting for interest rate results to get announced.
After the historical rise in the inflation rate, it was obvious to expect some strong majors from respective authorities. This may continue for the coming few months.
Now we have come below 15800, which was one of the most critical support zones, considering the volume profile and historical price action. This level will act as strong resistance in the time ahead and the price may retest the next support zone which is 15000 and 14200 levels. These levels have created the price zone, where the index has spent 3-4 months so this would act as the next base and there prices may spend some time before taking further action.
You may see an increase in the call shorts at 15800 and 16000 strikes.
After the historical rise in the inflation rate, it was obvious to expect some strong majors from respective authorities. This may continue for the coming few months.
Now we have come below 15800, which was one of the most critical support zones, considering the volume profile and historical price action. This level will act as strong resistance in the time ahead and the price may retest the next support zone which is 15000 and 14200 levels. These levels have created the price zone, where the index has spent 3-4 months so this would act as the next base and there prices may spend some time before taking further action.
You may see an increase in the call shorts at 15800 and 16000 strikes.