TECHNICAL VIEW For 16122015: HOPE WITH CAUTION

TECHNICAL VIEW FOR 16122015:

NIFTY:

A Nice Follow Up Move For NIFTY After The Bullish PIERCING LINE Candle Pattern On Monday

First Hour Of Trade Is Very Important Today

As NF Will Move Up To 7760-7780 If It Continues To Trade Above 7725

Weakness Will Be Seen Again If NF Trades Below 7780

But 7626 Is The SAR For Bullish Trades But Any Thing Can Happen After FED Announcement Tonight

Markets May Have Discounted A One Time Increase In Rates But It Is Prudent To Wait And Watch

NIFTY FUTURE Chart:

BANK NIFTY:

BANKNIFTY Has Touched 16200 Which Was TARGET/SUPPORT And We Are Witnessing Mild Recovery From Supports

We Have A 'DOJI STAR'' Candle Pattern For BNF Which Needs A STRONG BULLISH CANDLE Today To Suggest A Reversal

BNF Has Resistance At 16500 And A Fifteen Minute CLOSE Above 16500 Can Take BNF To 16625-16680 Price Zone Which Is SHORT TERM TREND REVERSAL ZONE

An EOD Close Above 16680 Can Take BNF Higher

I Would Suggest Shorts Below 16275 Only .

BNF EOD CHART: