NIFTY NEUTRAL

NIFTY SEEMS WEAK IN ITS CHART. IT HAS SUPPORT AT THE LEVELS OF 11030/10 AND 10930 WHERE AS RESISTANCE AT 11150 AND 11250. I WOULD EXPECT NIFTY TO BE IN RANGE BOUND IN BEETWEEN 11030 AND 11000. THUS SELL A CALL OPTION OF 11250 FOR INTRADAY BASIS. IN LONG RUN THE MARKETS MAY SLIGHTLY RETRACE AND BE RANGE BOUND FOR A FEW. I DONOT EXPECT TO NIFTY TO CROSS 11250 IN UPPER SIDE AND 10930 IN LOWERSIDE TILL WEDNESDAY. SINCE RBI IS ABOUT TO DECLARE THE FINANCIAL POLICY ON THURSDAY, SO IT WILL NOT BREACH THE UPPERSIDE LEVEL BUT LOWESIDE LEVEL MAY BREACHED ON THURSDAY ON ACCOUNT OF BANK NIFTY .