NIFTY is likely to open positive.
It is likely to show some sharp move because of union budget announcement, although we expect to settle within 1.5% on either side.
NIFTY short term support is between 11570-11610 and resistance is between 12290-12330.
BANKNIFTY short term support is between 29890-29990 and resistance is between 31410-31510.
Expect sharp move on either side.
Last Trading Day's Highlights for us:
1. All stock option strategy positional trades are in control.
2. Initiated BANKNIFTY monthly positional trades.
3. Intraday trades were closed in GREEN.
4. Upcoming Option strategy workshop is planned in Mumbai on Feb 8-9.
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