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