● Nifty index continued its weakness for the 3rd consecutive session and corrected towards 11200 as it failed to surpass immediate hurdle of 11333. It formed a pattern similar to Three Black Crows and making lower highs - lower lows on daily scale     

● Now on bounce back move if it fails to holds above 11333 zones, then weakness could continue towards previous swing high of 11171 while requires a decisive hold above 11333 zones for further bounce towards 11400 / 11450 zones

● Max Put OI is at 11200 then 11000 while Max Call OI is at 11500 then 11400. Call writing seen at 11300 then 11400 strike while Put unwinding is seen at all immediate strikes

● India VIX fell down by 2.88% at 14.00, decline in VIX even after market dips suggest a small consolidation

● Bank Nifty continued its weakness and remained highly volatile on its weekly expiry session and corrected towards 26250. It is forming lower highs - lower lows from last 3  sessions and trading 100 points away from its crucial 200 DEMA. It is trading at its two months low levels and previous supports are gradually turning as a resistance zones

● Now till it remains below 26650 weakness could be seen towards 26000, while upside hurdles at 27000 and 27165 zones

● Longs in  Gail, Muthoot Finance, JSW Steel and SRF                                                               

● Shorts in Mindtree, Niittech, DishTv and Godrej CP