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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