A FAILED H&S

TECHNICAL VIEW FOR 08012016:

NIFTY:

Opened Below 7700 As Markets Has Answered A BULLISH Gap With Much Sharper BEARISH GAP And So Abolished Any Positive Probability Seen With The INVERTED H&S Structure

As I Had Clearly Wrote

''A CLOSE Below The BULLISH GAP @7712-7700 Will END The Up Move And We May Again See 7551''

And  ''A DEEP Move Below 7700 Will Play Havoc One May Expect Some Recovery From 7734-7700 Zone But The WORLD MARKETs Are Entering Strong Down Move Is Concern''

NIFTY Plunged Like Any Thing Closing @7571

I Believe 7551 Would Not Be Able Support Now And NIFTY Has Possible Target Zone Of 7430-7330-7280 Very Soon

On INTRADAY Basis NF Can Bounce If Trades Above 7620-7626 Zone Or In A Strong Down Trend It Can Bounce From 7502 Around Too

NF 5 MINUTE CHART:

7747 Becomes New STOP & REVERSE

NIFTY EOD:

A Failed H&S STRUCTURE

BANK NIFTY:

A BIG Bearish Gap Here Too Which Is NEW STRONG Hurdle

15800 Is Surely Possible Now

A CLOSE Above 16430 Is STOP & REVERSE

BANK NIFTY EOD: