Bank Nifty index has slipped over 150 points to trade at 24,175 level as of 1002 hours on Wednesday. Heavyweight, ICICI Bank is the biggest dragger for the index trading at Rs 294.8 per share, down by 0.94%.
All the 12 constituents of the index were trading in negative territory. On the derivatives front, Bank Nifty September futures were trading at a premium of 58 points. Bank Nifty options are going to expire on September 7, 2017. Bank Nifty Sept-7 24,500 CE and 24,000 PE have maximum open interests at 13.01 lakh shares and 9.27 lakh shares respectively.
There is profit booking seen at the call strikes of above 24,600 while on the other hand put strikes of 24,300, 24,400 and 24,500 are witnessing short covering positions signalling weakness for the index. Bank Nifty may have immediate support level at 24,000 while for the short term, the index is likely to consolidate.
Weak global cues have led the downfall in Bank Nifty in the early trade on Wednesday believes market experts. Meanwhile, Nifty was trading at 9,897 level, down by 54 points while Sensex was trading at 31,625 level, down by 184 points.
Capitalstars Financial Research Private Limited is a research house and an investment advisory carrying out operations in the Indian Equities and Commodity market.We also provide free trial to our client.Join our services and trade with us.
Get more details here:-
* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
* CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
0 comments:
Post a Comment