MARKET VIEW 15012016

TECHNICAL VIEW FOR 15012016:

NIFTY:

NIFTY Has Been Extremely Volatile In Last Two Trading Days

7422 / 7430 For NF Seems A BOTTOM For Now

Because Such Volatility Can Happen Before A TOP Or BOTTOM Formation Since We Have Seen Relentless Selling From Around 8000 We May Now See A Rally

STOP: CLOSE BELOW 7471 Today

NIFTY EOD:

BANK NIFTY:

A Very Nice Fibonacci Setup Suggests That At 15450 BANK NIFTY May Have Hit A BOTTOM For The Short Term

And A Relief Rally Will Be On The Cards

STOP: A CLOSE BELOW 15450

Once BANK NIFTY CLOSEs Above 15800 It Can Reach 16200-16434

For BNF An Hourly Close Above 15689 Will Confirm My View

BANK NIFTY EOD:

Please Remember That The Suggested Up Move Will Mostly Be A RELIEF RALLY Which Will Reach 38.2% Retracement Levels Of The Recent Fall And Medium Term Bearish Trend Remains Intact

After Watching  The STRENGTH I will Suggest What Kind Of Move Will Follow And If We Just Have A SIDE WAYS Move The DOWN MOVE Will Continue Below STOPs Given Today