TECHNICAL VIEW FOR 21012016:
NIFTY:
Another Big Gap Down And A Big Fall Followed By A SMART
Intraday Recovery But Still NOTHING Positive On EOD Charts
What Happens Normally Is That After 300-400 NIFTY POINTS
Fall There Used To Be Some Smart Recovery But This Time Around Even After Some
700+ Points Crash We Are Witnessing Only INTRADAY Rallies
Some Where It Will Stop And We Will Have A Relief Rally But
As I Said Earlier It Is Dangerous To Swim Against The High Tide
A STOP & REVERSE Would Be A CLOSE Above 7447 For
Positional NF traders
7336-7364 IS THE FIRST HURDLE TO
CROSS FOR NIFTY ABOVE WHICH IT CAN ATTEMPT
FOR 7462 AND AFTER CLOSING THE GAP IT CAN REACH 7498-7551
A CLOSE Below 7280 Would
Negate The Up Side Possibility
Since DOW
& DAX Has Reached Their AUGUST-15 LOWs Which Are Minor Supports I Am
Expecting Some Up Side But Again ONLY Above Suggested Levels With A CLEAR STOP
EOD NIFTY :
BANK NIFTY:
I Had Given
A DOWN Side Target Of 14665 For BANK NIFTY And Yesterday It Made A LOW Of 14754
My Target
Was Given When BNF Was Around 16000
A Relief
Rally Possible On A BANK NIFTY CLOSE Above 15270-15338
The TARGET
Zone Would Be 15453-15790 Which Will Again Be A Tough Resistance Zone
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