Tech View

MARKET VIEW For 26022016:

NIFTY:

7037-6965 Were 1st Two Targets Below Which 6943-6865 Too Possible And Yesterday NIFTY Did Close Exactly @6965

Looking At World Markets A GAP UP Open Is Possible And Expect Some Up Side In The Hope For A Good Budget

7066 Is First Possible Target If NIFTY Closes 1st Hour Above 7019

7100 Will Be Next Possible Target And Resistance Too

It Is A Big Event Day Coming So Wait & Watch Must Be An Ideal Strategy

NIFTY EOD:

NIFTY LOW : 6869

NIFTY Meets The LOWER END Of BROADENING STRUCTURE

NIFTY TARGETs 7118-6880-6600

TECHNICAL VIEW FOR THE WEEK 08022016:

Markets Always Produces POSSIBILITIES Of Larger Moves On Either Side So A Technical Analyst Has To Weigh Different Evidences To Judge The HIGHER SIDE Probability

Technical Analysis Is A SCIENCE OF VISION If There Is Clarity The Prediction Can Be On Track But When There Is Fog In The Air The Vision Too Gets Disrupts

When There Is NO CLARITY One Should Be Honest Enough To Accept It Till The Sun Shines To Make The Vision Clear

MIXED SIGNALS:

NIFTY May Have A STRONG BOTTOM In Place At 7230 But Once BROKEN There Can Be A One Way Deep & Panicking Fall To 7118 And Even Up To Around 6600

BANK NIFTY Too May Have A STRONG DOUBLE BOTTOM In Place At 14700 But Once Broken It Can Easily & Swiftly Plunge Towards 13332

So Its Better Wait And Watch

A FEW NEGATIVES :

DOW JONES AND S&P Are At SUPPORTS But Once Broken Below Recent Lows Can Bring In Severe Panic In The WORLD MARKETs

DAX Too Is At SUPPORTs But Has Given A WORST WEEKLY CLOSE In Many Months And Seems To Be On The Verge Of A Big BREAK DOWN

A FEW POSITIVES:

Four Leading Banks Are Showing Signs Of Immense Strength And Will Lead The New Bull Phase From Around Middle Of 2016 Onwards

They Are KOTAK ,HDFC BANK,INDUSIND BANK,YESBANK

NSE MIDCAP INDEX Has No Signs Of Any BREAK DOWN As Yet When We Compare It With NIFTY & BANKNIFTY

NIFTY Levels To Watch:

NIFTY Has CLOSED Above One BEARISH GAP At 7448 So If It Sustains Above 7448 NIFTY Can Attempt The Earlier Important Resistance At 7551-7600

A CLOSE Above 7600 Will Be Again Positive

A CLOSE Below 7360 Will Be EXTREMELY Negative

BANK NIFTY:

A  CLOSE Below 15145 Will Be NEGATIVE

And If BNF Closes Monday Above 15210 Again It Can Attempt At 15500-15600

A CLOSE Above 15600 Will Be Very POSITIVE

NIFTY VIEW

TECHNICAL VIEW FOR 03022016:

NIFTY:

Two Days Back I Suggested That A NIFTY CLOSE Above 7600 Can Take It To Higher Levels And NIFTY Made A PRECISE HIGH Of 7600 On 1st Feb

Yesterday Too Bulls Made An Attempt To Cross 7600 But The Was 7576

A CLOSE Below 7400 Will End The RELIEF RALLY

May Be One More Attempt Be Made From 7400-7350 Zone To Take NIFTY Higher But Now With Yesterdays Crack The Whole PRICE STRUCTURE For The RELIEF RALLY Seems Bearish And NIFTY Should Breach 7230 In Coming Days

NIFTY EOD: 

BANK NIFTY:

BANK NIFTY Did Not Have Any Strength And A CLOSE Below 14900 Will Resume Fresh Down Move Here

TECHNICAL VIEW FOR NIFTY & BANK NIFTY

TECHNICAL VIEW FOR 01022016:

NIFTY:

In My Last Technical View I Suggested That A SHORT TERM BOTTOM Was In Place At 7230 And A Possible Relief Rally Targets Were Set 7462-7551

NIFTY Has Managed To CLOSE Above A Crucial Resistance At 7551 So On A CLOSE Above 7600 It Can Reach 7672 And 7721-7742 To FILL The Bearish GAP

A CLOSE Below 7400 Is STOP & REVERSE

NIFTY EOD:

BANK NIFTY:

BANK NIFTY Could Not Move As STRONG As NIFTY Because It Has A Sharp GAP DOWN OPEN On Friday

A Move Above 15682 Can Take BANK NIFTY Towards 15790

A Close Above 15800 Can Take BANK NIFTY Up To 16108-16205

BANK NIFTY: