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Trade Plan -Nifty to continue bearish bias; avoid long positions.

On the anticipated lines, banking and financial stocks largely underperformed; this phenomenon will continue to persist.


Volatility surged intraday as India Volatility Index, India VIX rose sharply by ~27% but settled flat with a minor gain of 0.44%


On Tuesday, Nifty is likely to see the levels 9,365, and 9,395 levels act as immediate resistance points. Supports will come in at 9,230 and 9,105 levels.


A total absence of any intraday recovery in the market and Nifty’s ending near the low point of the day highlights the strong consensus among market participants on the direction of market trend. There are higher possibilities that Nifty will continue to exhibit a bearish directional bias for some more time.


Financial stocks will continue to underperform the headline index relatively. Just like Monday's session, we recommend avoiding any purchases following any down move in the market. ..

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