Technical View :NIFTY

MARKET VIEW FOR 29092015:

NIFTY: TRENDS On Different Time Frames Can Be Described As Below

LONG TERM : UP

MEDIUM TERM :DOWN

SHORT TERM : SIDEWAYS With Negative Bias ( UP If NIFTY Closes Above 7900)

7900 Has Been The SHORT TERM TREND Decider Level Suggested From Here For The Up Move And NIFTY Made A High Of 7893 Yesterday Its High Was 7894 On Last Thursday

Level Wise 7723 And 7678 Are Two Lower Levels To Watch And If NIFTY Closes Here The Whole VISIBLE Positive Price Structure Will Be Negated Which Will Initiate A FRESH DOWN MOVE Targeting 7539 Minimum

Any Up Side Possible Now Can Come Only If NIFTY Can Close Above 7900

NIFTY EOD 280915:

BANK NIFTY :

D-Day For Banks With The STRONG BEAR Phase In The World Markets It Will Be Tough For Bulls To Protect The Bearish Onslaught If RBI Eases Rates MILDLY

17491 Is A Fibonacci Retracement And Was One Of My Targets Shown Earlier And Though BNF Did Find Supports At Lower Levels Bulls Were Unable To Cross It Again

16759 Is A Very Important Level For BANK NIFTY As If It CLOSES Below 16759 Today Or Tomorrow The POSITIVE Structure May Get Negated