Market View | 6 June Nifty has recovered strong after NDA led government came in confidence to lead Next term under leadership of PM Modi
The volatility has been high over last 2 days where VIX has cooled off
The market can cooldown and remain rangebound in wide range of 22880 and 22000
Nifty can have range of 600-700 pts with limited upside at the moment
Today’s expiry ATM IV’s are 33 which have come down after yesterday’s upmove
ATM straddle of 22500 at 309
The Highest call writing is at 23000 and Highest Put Writing is at 22000
### BANK NIFTY
Banknifty has also recovered half of the lost pts in the upmove
The Index can face resistance around 49700, only if it sustains above 50200 it can lead for new high which looks low probability
Banknifty support at 47400 at the moment and index can remain volatile for 1000 pt intraday range
https://rb.gy/gwxmil
