Market View

NIFTY : 8650--8665 Seems to have Proven A Real Strong Resistance Zone And As Suggested Here To SHORT Nifty Futures If It Remains Below 8555-8571 NF Tested Previous Lows At 8503 And Then Met The 2nd Sell Target of 8460 Too By Making A Low At 8461

We Are Heading Towards The GAP Zone Of 8448-8397

For A Decisive BREAK Down We Need To Have A Watch For A CLOSE Below The GAP At 8448-8397 Also The First Fibonacci Support Of 38.2% is At 8380

Expect Some Corrective Up move / Sideways Moves IF Nifty Fills The Gap And Does Not CLOSE Below 8380

This Week's CLOSE Will be Very Very Crucial For Our Markets

BANK NIFTY :

We Suggested Short Trade For BNF Below 18795 For Target s of 18695 and 18576 And BNF Made A Low Of 18630 Before Closing At 18699

Looking At The World Markets Expect 18576 Today

A Move Below 18576 will Take BNF To 18430-18351 First

If We See A Bounce Back Today Or In Next 1-2 Days From These Levels Then 18802-18920 Will Be Strong Resistance Levels For BNF

EOD CHART OF BANK NIFTY :

STOCK IDEAs : We Would Prefer To Watch Todays Close Before Giving Any Pre Market Stock Trades For Futures

Investment Pick : BLUESTARINFO CMP:283 Is Suggested As Short Term Delievery Pick  Also One Can Add More Above 290 For Targets of 299--309