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Intraday Outlook: Buy Bank Nifty in the range of 43000-43050

Nifty F&O View:

On Thursday, the Nifty witnessed healthy buying and closed at all time high. Major of the gain in Nifty was led by Reliance, HDFC Bank and IT stocks. According to option data, ATM and near ATM Put strike observed sizeable OI addition which indicates downside would be capped. Hence, we expect Nifty to continue its positive momentum.

Sell Nifty 18350 Put option (December 1 expiry) in the range of Rs 40-42 Target: Rs 18 Stop loss: Rs 56

Bank Nifty F&O View:

The Bank Nifty continued its positive momentum for the fourth consecutive day and closed with a gain of 328 points. Among banks, PSU Banks continue to outperform private banks. According to option data, both 43000 Call & Put strike holds substantial OI which indicates the Bank Nifty might consolidate around current levels.

Buy Bank Nifty future in the range of 43000-43050 Target: 43350-43450 Stop loss: 42850

Date Stock Action Initiation Range Target Stoploss Time Frame
25-Nov-22 Nifty 18350 Put Sell 40.0-43.0 18.0 56.0 Intraday
25-Nov-22 Bank Nifty Buy 43000.0-43050.0 43350.0-43450.0 42850.0 Intraday