Technical View For NIFTY & BANK NIFTY:
We Have Seen A Very Smart Rally In Both The Major Indices
Post Budget
A Major Event Awaited By The Markets Was RBI Policy Day And
Just Before That The Move Especially In BNF Was A Perfect Rising Channel
Yesterday That Channel Has Been Decisively Broken So Unless
BNF Moves Back Above 16000 On HOURLY CLOSING Basis I Feel We Are In For The 1st
Major Correction POST BUDGET
1st Target Seems To Be 15220 And Next 14872 But We Will See
Some Good Bounce Back From Around 15200
For NIFTY The Price Structure Seems Slightly Different And
CONE Shaped
1st Supports Around 7600 But Once We Have A CLOSE Below 7600
And 7550 (Where We Have The TREND LINE Support),We Will See A SHARP Short Term
Down Move Up To 7434
Here Are NF & BNF Charts
NF HOURLY:
BNF HOURLY:
