TECHNICAL VIEW FOR NIFTY & BANKNIFTY

TECHNICAL VIEW For NIFTY & BANKNIFTY For 06102015:

NIFTY:

NIFTY Closed Above 7900 Last Wednesday And On Thursday It Did Give A Negative Close But Was Still Above 7900 So My Comment Was That The Down Move On 1st October Was A PAUSE ONLY And One NIFTY Got Support From BNF As BNF Started Trading Above 17410-17460 There Was No Look Back For NIFTY Too

NF Closed Just Above My First Target Of 8130

The Probable Inverted H&S Structure Was Suggested From Here Well In Advance EVEN BEFORE The RIGHT SHOULDER Was Visible

Supports At 8091-8051 And With A STOP At 8005 NIFTY Is Now Heading Towards 8238 /8276 And 8315

NIFTY EOD:

BANK NIFTY :

For BANKNIFTY I Have Been Clearly Writing In ALL MY WEEKLY CHARTBOOKs That The 2015 Fall Has Been A FALLING CHANNELED MOVE Which Is BULLISH

17410-17460 And Finally 17660 Were Our Levels For Upside Breakout Which Did Happen Yesterday So BNF Is Now Heading Towards The BIG BEARISH Gap

With SUPPORT At 17461 And With A STOP At 17100 BNF Can Move Towards 18211-18326 In Coming Days

But I Hope BANKNIFTY Should Close Above 17720 Today And Has Some Resistance At 17821-18034