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Intraday Outlook: Buy Bank Nifty in the range of 42250-42300

Nifty F&O View

On Monday, the Nifty slip lower for the second consecutive day. The weakness was led by Reliance, HDFC group among others. For the day, we expect Nifty to trade in the range between 18000 - 18300 as respective Put and Call strike holds sizeable OI addition.

Sell Nifty 17900 Put option (December 1 expiry) in the range of Rs 43-45 Target: Rs 21 Stop loss: Rs 56

Bank Nifty F&O View:

The Bank Nifty relatively outperform Nifty and closed with a minor loss of 0.21%. Upside in Bank Nifty was capped due to selling pressure in HDFC Bank, Kotak Mahindra Bank. According to option data, healthy put writing was seen in ATM and near ATM strikes which indicates limited downside.

Buy Bank Nifty future in the range of 42250-42300 Target: 42500-42600 Stop loss: 42150

Date Stock Action Initiation Range Target Stoploss Time Frame
22-Nov-22 Nifty 17900 Call Buy 43.0-45.0 21.0 56.0 Intraday
22-Nov-22 Bank Nifty Buy 42250.0-42300.0 42500.0-42600.0 42150.0 Intraday