HAWKISH FED, BULLISH MARKET
US mkt down as Fed minutes show more hikes US bond yield, Dollar, Brent remain benign
Back home, FII buying now averaging $250 m . Nifty within 3.5% of life time high
TRADE SETUP TODAY
Weekly options expiry, momentum with bulls. Huge build-up at 17,900 and 17,800 Puts
Going by options data, first support for Nifty at 17,860
Risk-reward will be favorable if Nifty dips close to 17,860
17,780 sacrosanct in unlikely event of 17,860 being breached
On upside, Calls data suggests some resistance at 18,000
Possible that intra-day rally tops out around 18,000
Matter of when and not if Nifty conquers 18,000
Bank Nifty may outperform after 2 days of consolidation
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