Nifty levels
Nifty future crashed 2% yesterday and tanked below 7600 . Market rattled on chinese fear .Today a major support at 7530 . This is a technical support and its range which were respected by market some weeks ago . Once sellers break this level and manage to sustain beneath this level . Then expect market to correct upto 7490 – 7450 today .
If nifty future breaks our resistance at 7630 and manage to sustain above our resistance . Then expect market to zoom upto 7670 – 77100 today .
Banknifty levels
Banknifty crashed hard yesterday and made low of 16058 . A good support on chart at 15900 . If market breaks this and manage to sustain beneath this level then expect banking index to crack upto 15770 – 15600 today .
If banknifty future breaks our resistance at 16230 and manage to sustain above our hurdle . Then expect market to zoom upto 16370 – 16510 today .
Nifty Banknifty levels conclusion : Trend is clearly in favor of sellers .
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