Nifty update
Nifty future cracked more than 130 points from its friday closing . Currently its trading at 7848 . A good support on chart at 7790 . Once bear take this support out and manage to sustain below this level then expect market to correct upto 7740 – 7700 today .
If nifty future break our chart resistance at 7920 and manage to sustain above our resistance . Then expect some breather for buyers upto 7970 – 8010 today .
Banknifty update
New year start with a bear strike in market . Banknifty future cracked more than 400 points from its last closing . A good support now at 16570 . Once bear take this out and manage to sustain below our support . Then expect market to correct upto 16440 – 16310 today .
If banking index future break our resistance at 16920 and manage to sustain above our resistance . Then expect market to fire upto 17050 – 17200 today .
Nifty Banknifty update conclusion : Clearly trend is in favor of bears . No need to buy at all .
More will update to our nifty tips subscribers