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«But overall, the market undertone is very positive and comparatively Bank Nifty is looking way much better than Nifty because in Bank Nifty we have seen very strong breakout and even the 52,000 mark which was the major hurdle now is supposed to act as a very strong support zone,» says Osho Krishan, Angel One.
What is your sense of the market, the kind of construct that we are seeing with respect to largecaps versus the broader markets?
Osho Krishan: Well, looking at the overall sentiments in the market, they are obviously very positive. But for the benchmark index, the last two trading sessions, there has been some kind of resilience around the zone of 25,430, 25,440 odd levels on the spot zone.
And even on the derivative front, we are witnessing a heavy call writing position at 25,400. So, 20-30 points on the higher end can be seen as a buffer.
But from here onwards, if there will be any decisive surge beyond 25,450, then only we can see some kind of fresh traction coming in the benchmark index.
But overall, the market undertone is very positive and comparatively Bank Nifty is looking way much better than Nifty because in Bank Nifty we have seen very strong breakout and even the 52,000 mark which was the major hurdle now is supposed to act as a very strong support zone.
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