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Tech View: Nifty forms Hanging Man candle. What traders should do on Wednesday

Nifty saw huge short covering of the 19,300 call on Tuesday, which once again caused it to rally. As we get closer to the 19,500 mark on Nifty in the July expiry, expect to see some consolidation on the index. Bank Nifty is slowly seeing short straddles start to be created at the 45,500 mark for the July-end expiry. Taking the premium into account, one should not expect a run-away rally post 45500 in the very near term. It is also healthy if the indices consolidate for some time as this makes it...
Chandan Taparia Devarsh Vakil Nagaraj Shetti Rahulk Ghose Kunal Shah Motilal Oswal

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