Tuesday, September 8, 2015

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






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