Daily Report · August 25, 2021

Morning Pulse 25/08/21

  • As expected, short covering above 35500 took bank nifty towards 35700+, now it is reaching higher end of the trading range.
  • 36200 is the resistance level, now it shall respect the resistance, however we should be ready for an upmove as long Banknifty crosses 36000. Banks have been a laggard since last nifty rally, banks may catch up on some points.
  • Nothing has changed globally , jackson hole is being eyed as a key event now. US indices closed flat.
  • Dollar index has started getting a bid again , let’s see if it can cross above 94 or it will just consolidate ahead of jackson hole.
  • Bajaj twins continue to rally as Bajaj finserv got AMC license.
  • 36000-35200 strangle