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: