Nifty view
Nifty future tested lows of 7636 and then recovered in intraday trading . Finally gave positive close at 7706 . Today if index fututre break our intraday chart resistance at 7741 and sustain above our resistance . Then expect market to test upto 7790 – 7830 today .
If nifty future break our intraday chart support at 7630 and sustain below our intraday support then expect market to correct upto 7580 – 7540 today .
Banknifty trend
Banknifty continued its negative closing . It closed at 16364 loosing minor 24 points from its last closing . Today if banking index future break our intraday resistance at 16450 and sustain above our resistance . Then expect market to zoom upto 16610 – 16750 today .
If banknifty future break our intraday support at 16180 and sustain below our support level then expect market to correct upto 16040 – 15900 today .
Nifty Banknifty trend conclusion : Trend is in favor of bears but its FED day today . Do not hold anything for tomorrow .
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