Nifty view
Yesterday Nifty future remained under pressure and in a small zone whole day and finally gave a close of 8254 loosing 16 points in intraday trade . FII were still buyers and they started selling in future which shows their caution on higher levels . So now if nifty future click our technical resistance at 8310 and sustain above our intraday resistance then expect market to fire upto 8360 – 8400 today .If nifty future click our technical support at 8220 and sustain below our major support then expect market index to correct upto 8180 – 8140 and even more correction not ruled out . Even in our yesterday’s nifty view we indicated that market may feel pressure and today’s nifty view would be same .
Bank Nifty view
Yesterday Banknifty future tried to push our resistance of 18020 but it failed as it made high of 17968 . After highs it came under pressure and started consolidating and finally under performed nifty by end of the day . It lost 54 points in last trading session as it closed 17823 . So now if banknifty future click our resistance at 18020 and sustain above our major resistance then expect market to fire upto 18170 – 18330 today
If banknifty future click our technical support at 17680 and sustain below our index support today then expect market to correct upto 17550 – 17400 today
Nifty view Banknifty view conclusion : Market trend is flat to weak for now .
More will update to our subscribers .