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
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