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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Aug 19, 2022 - 9:21am
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