Nifty view
Nifty opened today after holidays of diwali . it opened gapdown as expected taking cues from world market . Hangseng is down 2.5% , Dowjones closed pretty bad last night . China market down 1% . So all over weakness around the globe . Nifty future trading now at 7767 . A good support in nifty today at 7720 once market break this and sustain below our intraday suppor then expect 7670 – 7630 today .
If nifty 50 future click our intraday resistance at 7830 and sustain above our hurdle today then expect buyers to feel a respite upto 7870 – 7900 today .
Banknifty view
Banknifty also trading lower but its holding better than nifty today . A good support in banking index at 16700 once market break this and sustain below our support mark then expect 16600 – 16500 today in banknifty .
If banknifty future click our intrday resistance at 17020 and sustain above our resistance mark then expect banking index to zoom upto 17180 – 17300 today .
Nifty Banknifty view conclusion : Market trend is weak so avoid major long