Nifty view
Nifty remained under pressure yesterday and closed 20 points down from its last closing at 7831 . Today nifty chart has an intraday support at 7790 . If market break this and sustain below our technical support today then expect market to correct upto 7750 – 7710 today .
If nifty future click our chart resistance at 7870 and sustain above our intraday resistance then expect market to fire upto 7920 – 7960 today .
Banknifty view
Banknifty future tested 16950 . We had given a sell call for target 16920 . Finally we closed our position at 17000 . Banknifty closed at 17020 . Chart suggests a support at 16920 . If banking index break this and sustain below our intraday support then expect market to correct upto 16800 – 16670 today .
Banknifty chart suggests a resistance at 17151 .If market break this resistance and sustain above our daily resistance then expect market to zoom upto 17270 – 17400 today .
Nifty Banknifty view conclusion : Market trend is weak so avoid major long trades .
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