Technical View :NIFTY

MARKET VIEW FOR 29092015:

NIFTY: TRENDS On Different Time Frames Can Be Described As Below

LONG TERM : UP

MEDIUM TERM :DOWN

SHORT TERM : SIDEWAYS With Negative Bias ( UP If NIFTY Closes Above 7900)

7900 Has Been The SHORT TERM TREND Decider Level Suggested From Here For The Up Move And NIFTY Made A High Of 7893 Yesterday Its High Was 7894 On Last Thursday

Level Wise 7723 And 7678 Are Two Lower Levels To Watch And If NIFTY Closes Here The Whole VISIBLE Positive Price Structure Will Be Negated Which Will Initiate A FRESH DOWN MOVE Targeting 7539 Minimum

Any Up Side Possible Now Can Come Only If NIFTY Can Close Above 7900

NIFTY EOD 280915:

BANK NIFTY :

D-Day For Banks With The STRONG BEAR Phase In The World Markets It Will Be Tough For Bulls To Protect The Bearish Onslaught If RBI Eases Rates MILDLY

17491 Is A Fibonacci Retracement And Was One Of My Targets Shown Earlier And Though BNF Did Find Supports At Lower Levels Bulls Were Unable To Cross It Again

16759 Is A Very Important Level For BANK NIFTY As If It CLOSES Below 16759 Today Or Tomorrow The POSITIVE Structure May Get Negated

WEEKLY CHART BOOK 280915B

WEEKLY CHART BOOK PRESENTS TECHNICAL VIEW OF THE NIFTY & BANK NIFTY:

NIFTY VIEW FOR THE WEEK 28092015:

Last Week Was A Complete Range Bound Week For NIFTY As Nifty Fluctuated Between Supports & Resistances And Moving In A Very Narrow Band Of 8021 To 7723 Which Is A 300 Nifty Points Range

7700-7668 Is The KEY SUPPORT Zone Which MUST NOT Broken If Bulls Are To Have Upper Hand In Coming Week/Weeks

Even After Good Bounce Back On Last Two Days I Believe The Short Term Trend Can Remain Down If NIFTY Can Not Close Above 7900

Once Above 7900 NIFTY Should Reach 8021-8092 First And 8204 Is Also Possible On The Upside

As Being Shown Here There Is A Visible INVERTED HEAD & SHOULDER Price Pattern On NIFTY As Well As BANKNIFTY Charts Bulls Will Try To Cross The NECKLINE

NIFTY EOD CHART:

For The Medium Term Trend A NIFTY CLOSE Above 8321 Is An Absolute Must And I Hope With Our Daily Technical Views We Will Be Able To Ride The Trend

One Can See A BROADENING PRICE Structure As Drawn On This WEEKLY NIFTY CHART Which Suggests That There Will Be A Lot Of Supports At Lower Levels Even If NIFTY Can Not Hold 7668 In Coming Days On The Bearish News Flow If The NIFTY Moves Down 7759 Will Be An Important Support Too

WEEKLY NIFTY 240915:

BANK NIFTY TECHNICAL VIEW :

With The Strength Of A Few Private Banks Like YESBANK /AXIS /INDUSIND /KOTAK Bank Nifty Showed A Better Positive Move In The Past Week

Even After A STRONG BEARISH Candle On 22nd BANKNIFTY Remained Above Key Support At 16681 And After Last 2 Days Positive Move BANK NIFTY Seems Even More Bullish So Once Above 17660 BNF Should Easily Reach 17901-18034

If BNF Can Close Above 17660 On Monday Itself Expect Better Than Expected RBI Policy Announcement On Tuesday

But Before Or After RBI Day Please Watch 16681 On A Closing Basis Because If BNF Closes Below 16681 Bullish Structure Will Be Damaged I Am Expecting A Level Around 18000 First

BANKNIFTY EOD CHART 240915:

Here Are A Few Bank Charts With My Comments On Charts

AXIS:

HDFC BANK :

KOTAK BANK :

MARKETVIEW FOR 23092015:

NIFTY:

In My WEEKLY CHARTBOOK On Monday It Was Very Clearly Suggested That BELOW 7913 The SHORT TERM TREND Will Also Change From Up To Down

It Was Also Mentioned That Although There Was A Weekly Candle Reversal Pattern A FALL Will Come At least To Have A HIGHER BOTTOM

This Was Written '' 7854 And 7793 Will Be Possible First Targets If NIFTY Closes Below 7913''

Nifty Reached Both Targets On A Single Day And NIFTY Made A Low At 7787 Before Closing At 7812

7779 Was NF Close Yesterday So For Today 7747 And 7700 Are Two Possible Lower Levels Where NF Can Reach And Will Find Some Support

7667 Is One More Level From Where We Can Expect Some Buying Support But Now Onwards The Short Term Trend Will Remain Down Unless NF Can Close Back Again Above 7900

NIFTY EOD 22092015:

BANKNIFTY:

For BANKNIFTY In My WEEKLY CHARTBOOK On Monday I wrote This

'' One Must Watch The BULLISH GAP 17156-17015 On Closing Basis Because If BANKNIFTY Closes Below 17015 It May Test Supports At 16681-16518 As SHORT TERM Down Side Targets''

BNF Once Below17156 Went Down To Close 16927

Yesterday Too I Suggested 17650 As A Resistance And BNF Made A High At 17640 And Tanked Down Heavily

17155-17285 Becomes New Resistance Zone And If BNF Can Close An Hour Above It We Can Expect Some Recovery Other Wise Down Side Targets Are Open

BNF HOURLY CHART 220915:

NIFTY TECHNICALS

MARKETVIEW 22092015:

NIFTY:

The Short Term TREND Remains UP As In A GAP DOWN Open NIFTY Touched 7908 But EVEN On A One Minute CHART Future NIFTY Could Not Close Below 7913

The Low At Open Just Filled The GAP And NF Bounced Back To Close With A Very Minor Loss

NF Can Again Try To Cross 8055 And May Reach 8096 In A Day Or Two

7913 Becomes A SHORT TERM Trend Decider Level And 7950-7931 Are Two Important Supports For NF

For Medium Term Trend The NECKLINE Drawn On The CHART Is A Trend Decider For NIFTY

NIFTY EOD 210915:

BANKNIFTY:

BNF Out Performed NF With The Strong Support Of Private Banks Like AXIS/KOTAK/YESBANK

There Are Signs Of A Very Good Bottom Formation In A Few Banks Like AXIS/YESBANK/KOTAKBANK And A Few BANKs Like INDUSIND/BOB Now Have Very Good Charts Too

For BNF 17156 Was The First Critical Support To Watch And In A GAP DOWN Open BNF Made A LOW At 17181 And Closed Higher Then On Friday

Above 17650 BNF Can Move Towards 17855-17901 Which Will CLOSE The Big Bearish Gap

17405 Is A New Support For BNF

WEEKLY CHARTBOOK : NIFTY & BANKNIFTY TECHNICAL VIEW

TECHNICAL VIEW OF NIFTY & BANKNIFTY FOR THE WEEK 21092015:

NIFTY:

TRENDS

LONG TERM: UP

MEDIUM TERM: DOWN

SHORT TERM: UP

One Can See How We Have Described The Present Move In Our Market TREND Wise

It Has Been A Mixed Bag As NIFTY Has Crossed Some Short Term Resistance Levels The SHORT TERM Trend Is Up But On The Weekly Charts The Medium Term Trend Will Remain Down Unless We Have A Strong Close Above 8300-8330 Zone

While LONG TERM TREND Remains Clearly Up

On 8th September When NIFTY Closed Above 7623 I Had Initiated Upper Targets Of 7865-7966-8092 As NIFTY Continued To Show Some Strength On Day To Day Basis

On 18th NIFTY Closed Above 7966 But Could Manage A HIGH Of 8055 Before Closing Way Below 8055

There Was GAP UP Opening Which Is BULLISH But The CANDLE FORMATION At The EOD Is A SHOOTING STAR Which Is A Probable REVERSAL PATTERN

7967-7913 Is The BULLISH GAP Zone So A CLOSE Below 7913 In Next Couple Of Days Will Be REVERSAL Of The Short Term Trend

NIFTY EOD 180915:

Since We Have Seen A 500 Point Rally From The BOTTOM At 7539 To 8055 There Will Be A Possibility Of A HIGHER BOTTOM Formation On Daily Charts One Can Not Say That By CLOSING Below 7913 NIFTY Will Again Resume The Down Trend

7854 And 7793 Will Be Possible First Targets If NIFTY Closes Below 7913

Looking At The WEEKLY CHART Of NIFTY One Can See That There is A Candle Reversal Pattern Called A MORNING STAR

But Since We Do Not Have A HIGHER TOP-HIGHER BOTTOM Formation On Daily Chart I Believe That EVEN IF We Have Strong Bottom In Place At 7539 We Should Have A DOUBLE BOTTOM Kind Of PRICE PATTERN With DOUBLE CANDLE REVERSAL Pattern On WEEKLY Chart In A 2/3 Weeks Time

There Is Surely A Probable Fresh Leg Of Down Ward Move Possible If The World Markets Continues To Remain Weak As They Are Right Now

Tried To Show A Probable Move On This Weekly Chart

WEEKLY CHART NIFTY 180915:

BANKNIFTY :

I Had Given Targets Of 17088-17291 For BANKNIFTY In Nearly All My Technical Reports On BANKNIFTY During Last 8-10 Days

Even Earlier When Our First TARGET For BNF Was 16100 On The Down Side I Had Clear Comment On ALL Charts Of BANKNIFTY That We Will See A Strong Bounce Back From Around 16100

One Must Read Comments On This Chart Published On 2nd September When Bears Were In Full Control

BANKNIFTY CHART POSTED ON 020915:

And Here Is The Updated Chart Of BANKNIFTY

As One Can See This EOD Chart Of BANKNIFTY That 17492 Was Our 2Nd Target On The Upside Which Was 50% Retracement Of The Down Move

One Must Watch The BULLISH GAP 17156-17015 On Closing Basis Because If BANKNIFTY Closes Below 17015 It May Test Supports At 16681-16518 As SHORT TERM Down Side Targets

EOD BANKNIFTY 180915:

An EOD Close Below 16670 Will Be Very Negative For The BNF

NIFTY : Technical View

MARKET VIEW FOR 18092015:

NIFTY:

After Lagging Behind BANKNIFTY In Crossing Hurdles NIFTY Finally Closed Above The Tough Resistance Zone Of 7865-7880 ON 16Th September

This Positive Closing Has Opened Up Further Up Side Having Targets Of 7966 And 8092

These Targets Have Been Being Mentioned Here Since I Found A Positive Reversal Pattern A Few Days Back

Supports : 7880-7823

The Bullish Gap Between 7823-7871 Is Very Critical For Next Few Days

Resistance: 7966-8092

SGX Nifty Traded As High As 8040 But Has Been Around 7960 For Most Of The Time Yesterday

If Nifty Opens Around 7966 One Must Watch First 15-30 Minutes Of The Trade Today Before Jumping In As 7966 Being A Fibonacci Retracement NF May Face Some Selling Pressure

NIFTY EOD Chart:

BANKNIFTY :

For BNF It Was Better Move Then In NIFTY As BNF Remained Above Crucial Supports At 16520 And Even Closed Back Above 16800 On 16th September

This Positive Close Has Opened Up Side Targets Of 17082-17200-17491

One Can Consider BNF Levels Of 17700 As A New SUPPORT For Next Few Days And Weakness Will Be Seen Only If BNF Closes An HOUR Below 17700

Do Remember That Despite The Recent Up Move It Is Possible That The Up Move Can Prove To Be ONLY A Corrective

Watch An EOD Close Below 16520 For Further Weakness Especially If This Happens After BNF Meets Our Targets On Any DAY

EOD CHART BANKNIFTY:

NIFTY : TECHNICAL VIEW 16092015

MARKET VIEW FOR 16092015:

NIFTY: NF Failed To Cross 7880 Once Again As After Opening Down NF Attempted To Cross The Hurdle But The Level Soon Attracted Bears And NIFTY Went Down

Support At 7807 Did Work As NF Made A Low Of 7801 But Could Not Close Below 7807

We Have A Holiday On 17th And FED Meet Is Also On The Same Day So We May Have A Lackluster Day After Initial Gap Up Open

NF Need To Close Above 7880-7904 For Further Upside

A Close Below 7807-7700 Will Be Strongly Bearish

NIFTY Is Moving Direction Less These Days So From Charts We Can Only Have Level Based Guidance

NIFTY EOD 150915:

BANK NIFTY VIEW:

BANK NIFTY Has Again Closed Back Below 17800 As NIFTY STOCKS Could not Take NF Beyond 7880 on Third Attempt

16520 Is The Level To Watch On CLOSING BASIS For BNF For Next Couple Of Days

If Today BNF Can Stay Above 17800-17900 We Have Further Upside Opening Up

A Close Below 16520 Will Be Surely Bearish For Our Markets For The Short Term

NIFTY -BANKNIFTY Technical View 15092015

MARKET VIEW 15092015:

NIFTY:

Yesterday BNF Clearly Out Performed NF

As BNF Remained Above 16419 And Did Cross 16800 And Even Closed Above It While NF Did Cross 7880 But Failed To Close Above 7880

Still A Good Bullish Candle On EOD Chart

With Slightly Weakened H&S Structure NF Must NOT Trade Below 7807 And Especially Below 7760 For Today

A Close Above 7904 Will Be The Best Thing For Bulls

INTRADAY NF CHART:

BANKNIFTY:

For Today And Tomorrow We Have Clear Levels For A STRONG Move On Either Side

As BNF Closed Above 16800 It Has Opened Up Further Up Side Targets Like 17088 And 17200 And A CLOSE Above 17200 Will Bring In Some Good News For Bulls

An Hourly CLOSE Below 16510 Will Most Probably End The On Going Corrective

As At 16510 We Have Important Low And Also A Trend Line Support

BNF 30 MINUTE CHART:

WEEKLY CHARTBOOK 140915

WEEKLY CHART BOOK FOR THE WEEK 14092015:

NIFTY VIEW :

First Let Us Have A Glance What Happened Last Week

A Strong Bounce Back From One Target Of 7538 A Big Bullish Gap Up Followed By A Strong Up Move Which Resisted At 7866 Another Day Comes With Big Gap Down Which Fills The Bullish Gap Gets Support At 7700 And On Friday Again NIFTY Got Resisted At 7878 As NECKLINE Levels Were 7865-7880 And Closed at 7785 Against Our Supports Mentioned Were 7771-7789 That Is The Story Of Wild Swings Nifty Had During The Week

NIFTY Did Give A Positive Weekly Close But Candle Stick Pattern Suggests The Recovery Can Be Just A Pause And Yet Again We May See A Few More Side Ways Days Before A New Down Leg Gets Initiated

Looking At INTRADAY Charts There Is Still A Possible ''INVERTED HEAD & SHOULDER'' Pattern Developing But The POSITIVE Structure Seems To Have Weakened With Last Half An Hour Sell Off On Friday

A Very Important Support For The Week is 7700 And 7661 But A Move Back To 7700 Or Below In First Few Days Of Week Will Completely Erase The Positive H&S Pattern On Intraday Charts

But Somehow If On Monday It Self NIFTY Moves Beyond 7880-7904 A Smart Rally Can Be On The Cards Again

For The Medium Term The Neckline Drawn On The Attached Weekly Chart Is The KEY RESISTANCE Line For NIFTY To Be Watched

BANKNIFTY :

BNF Was Supposed To Move Higher On Provided It Could Cross 16800 And In The Morning Itself BNF Touched 16798 And Remained Below It For The Whole Day

On Intraday Charts The POSITIVE Structure Seems To Have Weakened But An HOURLY CLOSE Above 16800 Can Once Again Take BANKNIFTY To Higher Levels Like 17082

Watch Supports At 16500 And 16419

NF-BNF TECHNICAL VIEW 11092015

MARKET VIEW FOR 11092015:

NIFTY:

A Strong Bounce Back From One Target Of 7538 A Big Bullish Gap Up Followed By A Strong Up Move Which Resisted At 7866 Another Day Comes With Big Gap Down Which Fills The Bullish Gap Gets Support At 7700 That Is The Story Of Wild Swings Nifty Has During The Week

All Levels On Either Side Worked Nicely Even In Such A Volatile Move And Since NIFTY Got Support From 7700 Today If NF Can Remain Above 7771-7789 There Will Be Fair Chance Of Nifty Crossing 7865 And Can Touch 7966 Which Is Also Another Bearish Gap

A Short Term Positive INVERTED H&S Pattern is Visible On Intraday Charts

Neckline At 7866-7880 A Volume Spike In Last Half Hour Of Trade Suggests A Possible NF Targets Of 7973 -8102

Also Note How Earlier High-Lows Does Match With Fibonacci Retracements Suggests We Have A Meaningful Bottom In Place

Caution Is Advised Though That If Such A Visible PATTERN Fails There Could Be A Severe Down Side

NIFTY INTRADAY CHART :

BANKNIFTY:

BNF Finally Did Close Above 16604-16670 Once Above 16800 BNF Has A Target Of 17083 And 17484 Too Possible If The Bullish Momentum Continues

16400 Is Now A STOP For Long Position In BNF

Similar To NIFTY Here Too We Can See How A Few Earlier HIGH-LOWs Does Match With Fibonacci Retracement Levels As Shown On This INTRADAY BNF Chart

NF-BNF TECHNICAL VIEW 10092015

MARKET VIEW FOR 10092015:

NIFTY:

Yesterday I Wrote This Here,

A CLOSE ABOVE 7726-7754 IS THE FIRST CONDITION TO HAVE A MEANINGFULL UPSIDE WHICH MAY HAVE BEEN INITIATED TODAY

AFTER THAT 13 DAY EMA --NOW AT 7866 AND 7964 CAN BECOME FIRST NIFTY TARGETS

Nifty Did Everything In A Single Day It Opened With A GAP Above Our Levels And NF Did Touch 7865 Precisely Before Closing At 7817

Supply Has Been Seen From 7866 Still We Have A Nice Positive Close Above A Few Earlier Lows And With A BULLISH GAP Which Now Becomes A Good Support And For Near Future A CLOSE BELOW This GAP Is Our STOP For Bullish Positions

In The Process Of Forming A HIGHER BOTTOM On Intraday Charts If NIFTY Comes To The Level Of 7752-7734 And Does Not CLOSE Below 7700 It Can Be A Good Buying Opportunity Again

A Sustained NF Move Below 7700 Will Probably End The Two Day Rally

BANKNIFTY :

BNF Underperformed NF Yesterday And Even Though Closed With A BULLISH GAP BANKNIFTY Could Not Close Above Our Levels

This Was My Comment About BANKNIFTY Yesterday

'' BANK NIFTY Has To CLOSE Above 16607-16670 To Have A Probable Up Side Of Up To 17088 As One Target If This Does Not Happen Soon The Down Move Can Again Resume''

BNF Just Managed To Close At 16604

16414-16318 Are Two Support Levels For BNF And If It Sustains Below Them It Will Open Up Further Down Side

Watch An Hourly CLOSE Above 16670 Today Or Tomorrow For Further Up Side

BNF 30 MINUTE CHART:

                                                                                                                                                                                                      

MARKET VIEW 090915

MARKET VIEW FOR 09092015:

NIFTY:

A CLOSE ABOVE 7726-7754 IS THE FIRST CONDITION TO HAVE A MEANINGFULL UPSIDE WHICH MAY                                                                                                                   HAVE BEEN INITIATED TODAY AFTER THAT 13 DAY EMA --NOW AT 7866 AND 7964 CAN BECOME FIRST NIFTY TARGETS

From Intraday Charts I Had Given A NIFTY Buy If NIFTY Was To Trade Above 7623 And More Above 7682 Nifty Did Trade And Closed Above Both Suggested Buy Levels

So We May Have A SHORT TERM Bottom In Place With NIFTY Low At 7539 And Here Is A Chart Presented With My View A Few Days Back Wherein A NIFTY Target Of 7538 Was Given

BANKNIFTY:

For BANKNIFTY 16100 Was A Primary Target And I Had Drawn AN IMPORTANT PRICE ZONE For BANKNIFTY And Posted The Same Chart With My Views For Quite A Few Days

 Also In My WEEKLY CHART BOOK I Posted A WEEKLY CHANNEL For BANKNIFTY With A View For BANKNIFTY To Have A STRON SUPPORT Around 16100

Here Are Both These Charts With Fresh Comments

MORNING CALL

Here it was

For The Short Term Traders A Buying Opportunity Comes Up If NF Trades Above 7623 And More Above 7683 

MARKET VIEW 080915

MARKET VIEW FOR 08092015:

NIFTY :

SUPPORTS : 7548 /7480

RESISTANCE :  7621 /7683

Both The SHORT & INTERMEDIATE TRENDs Are Down And As I Clearly Suggested A Few Days Back There Is No Point In Trying To BOTTOM FISH A Falling Market

The Latest Down Side Targets Were 7548 And 7480 & NIFTY Did Touch A LOW Of 7545 Yesterday

We Should Meet 7480 Too And There Should Be A PANIC LOW Before A Meaning Full Upside Corrective Can Happen

Here is A NIFTY Chart Showing How The 7480 Target Seems To Have Some Logic

For The Short Term Traders A Buying Opportunity Comes Up If NF Trades Above 7623 And More Above 7683 Other Wise Its Still A Sell On RISE

BANK NIFTY:

BANKNIFTY Continues To UNDERPERFORM NIFTY Which Is NOT A Very Good Sign For Our Markets As A Whole

16000-16200 Becomes A Tough Zone For Bulls And An Hourly Close Above 16200 Can Bring In Some HOPE Based Relief Rally Else It Will Continue Its Down Ward Journey

There Will Be Some Corrective Up side But The Final Targets Before A Meaning Full Correction Can Come Up In BANK NIFTY Is Around 14700 

Since STOCHASTIC On Weekly Chart Has Entered OVERSOLD Zone One May Expect A Corrective Upside Soon But PLEASE Do Keep In Mind LEVELS Suggested Here Are To Be Crossed First

MARKET VIEW 040915

MARKETVIEW FOR 04092015:

NIFTY:

SUPPORTS: 7780-7754

RESISTANCE: 7870-7921

NIFTY Left One Down Side Gap Between 7921-7947 That Becomes A Major Hurdle Now And Before That NIFTY Has To Close An HOUR Above 7862 For NF An Hourly Close Above 7870 Will Make It Rally Further

There Was A Clear Suggestion To Enter Long If Nifty Crosses 7885 Yesterday And Once Above 7885 There Was Good Intraday Move Taking NF to 7870

But NIFTY Failed To CLOSE Above 7862

Now We Have Two Very Good Levels For Both Sides If NF Trades Below 7780 Expect Further Weakness And If It Trades Above 7870 Expect 7921 As First Target

BANKNIFTY:

SUPPORTS: 16320-16218

RESISTANCE: 16670-16983

BANK NIFTY Has Just Managed To Close Above 16550 There Will be Some More Up Side If Today It Can Move & Sustain Above 16670

If Above 16670 We May See 16983

If BNF Moves Again Below 16340 Yesterdays Up Move May Get Negated

One Must Not Forget That Bottom Fishing Is Not A Great Trade When There Is A Bear Grip On Markets But Since There Seems A Possible Sideways Move In A Broad Range Of 7700-8100 For NIFTY & 16100-17000 For BNF We Can Have Some Good Intraday Long Side Trades

There is A Very Distinct Possibility That After Some Corrective Move We Will See New Lows

MARKET VIEW 03092015

MARKET VIEW FOR 030915:

NIFTY :

SUPPORTS : 7667--7601

RESISTANCE: 7746 -7785--7862

NIFTY Continued To Move Down As It Closed At The Lowest Point In Last Few Months

Some Support At 7667 and 7601 But If NIFTY Can Move Above 7785 And Can Give AN HOURLY CLOSE Above 7785 There Will A Be A Possible Up move Up To Around 7862

A CLOSE Above 7862 Will Suggest That We Will Be In A Range Of 7700-8100 For Some More Time

Will Such a Possible Range Bound Move Be A BASE Or Just A Distribution Phase ?

Time Will Tell Us And Technicals Will Guide Us

7856 Was Our Resistance For Yesterday & Nifty Could Make A HIGH Of 7862 Only

FUTURE NF Traders Can Go Long Above 7785 And More Above 7865

BANKNIFTY:

SUPPORTS : 16100-15900

RESISTANCE: 16465 /16615

I Did Correctly Find More Weakness In BANKNIFTY At The Start Of The WEEK Itself And As Suggested BNF Fell More Sharply Then NIFTY In First Three Days Of The Week

16100 Has Been Our Target Since Last 2 Weeks And BNF Made A Low Of 16232 Yesterday

For Today If BNF Can Move Above 16465 We May See Some Corrective Up Move Today But We May See Some More Up Side IF TODAY BNF Can Close Above 16615

NIFTY CAN PLUNGE TO 7538-7379

NIFTY VIEW FOR 02092015:

I Wrote Yesterday In Very Clear Words

 '' Today NIFTY Has Supports At 7921/7904 And Resistance At 8069/8125 On Either Side Of These Levels We Will See A Big Move In few Days''

Also On the Chart Presented My Comment Was '' THERE IS NOTHING BULLISH IN THIS LAST FEW DAYS MOVE FROM 7667 ''

Yesterday NIFTY Opened At 7921 And once 7904 Too Got Broken There Was Continued Selling Across The Market And NIFTY Made a LOW At 7750 Before Closing At 7792 And Closing With Strong Bearish Candle

Low Of 7750 is a 78.2% Retracement Level Of Last Up move From 7667 So If NIFTY Can Move Above 7856 We Can See Some Up move

On the Down Side 7710 /7667 Can Give Some Support But In MOST PROBABLE Scenario We Will Seen NIFTY Levels Like 7538 /7379

NIFTY EOD CHART:

BANK NIFTY VIEW FOR 020915:

For This INDEX Too My Comment On Yesterday Was Very Clear "' For BANK NIFTY It Seems Very Clear That Bears Have Sold Every Bit Of Rise In It

Once Below 16884 Bears Will Again Have Full Control Here''

As BNF Tanked Below 16884 There Was No Hope For Bulls

BNF Has Closed Below Its Recent Low Made On 25Th August We Shall Expect 16100-15900 Zone For BNF Very Soon

17046-17128 is New SUPPLY ZONE /RESISTANCE For BANK NIFTY And One CAN GO LONG Only If We Get An HOURLY CLOSE Above This Zone