Today consider resistance 4780-4800, downside support exit 4700, thereafter of overall selling cannot be ruled out. Today Magic No. 4717 decisively breaks another round of panic.
BSE : Last week market it was mentioned that 16432 a last and final support, thereafter sharp down side start and it was made a low 15765. Overall Sense is current level deeply oversold from a short term prospective? In ties week, we may consider previous low i.e. 15650 and 15330, on the higher side resistance 16250-16600 and major resistance 17000 is required to sustained recovery in the market. Trend Decider of this week 16054. Overall close watch 16000, weekly and monthly close below index will drag down up to 14500-13000.
Today: Consider resistance 16000-16050, decisively crossover and sustained with volume will move further, on the lower side support exit 15765, thereafter it will test 15650-15500. Lower level, do not panic please, any time sharp bounce back cannot be ruled out.
BANK NIFTY STOCK : As mentioned in this column last week, last and final support 9500-9300, thereafter more down side and it was made a low of 8900. In this week we may consider resistance 9150-9300, down side support exit 8806, thereafter heading towards 8200-8150-8100 likely. close below 9300 target 8410-8200 in coming days.
TODAY: Bank Nifty, consider resistance 9300-9351-9400, downside support 9000, decisively break with volume major weakness likely up to 8800. Today magic no. 8896.
BSE index: (15848) Consider for this week...15998 & 16102 nearest & 16269-16302 solid resistances up to which selling on higher levels to continue, keep stop loss of 16382 to your shorts.
Downward side it'll fall down further to 15710-15668 initially which is a most crucial support to watch out for. A close below 15668 fresh selling will underway & it'll fall down further to 15607, 15505 & 15410. A close below 15410 huge panic will drag it down to 15058, 14933 & 14817.
Nifty SEP future: (4747) Consider for this week...4775-4796 nearest & 4835 & 4888 solid resistances up to which selling on higher levels to continue, keep stop loss of 4920 to your shorts. Downward side it'll fall down to 4700-4692 & 4677-4668 initially which is a crucial support to watch out for. A close below 4668 it'll heavily fall down further to 4631, 4619 & thereafter to 4564, 4526 & 4510-4493 & 4449.
Bank Nifty Stock Future: (8965) Consider for this week...8870 a nearest crucial support to watch out for. A close below 8870 it'll heavily fall down further to 8635 initially. A close below 8635 sudden panic will drag it down to 8482 & 8305, cover shorts around 8305. Upward side 9132 & 9235 nearest & 9359 a solid resistance, keep stop loss of 9401 to your shorts.
Bank Nifty Stock Future: (8965) Consider for this week...8870 a nearest crucial support to watch out for. A close below 8870 it'll heavily fall down further to 8635 initially. A close below 8635 sudden panic will drag it down to 8482 & 8305, cover shorts around 8305. Upward side 9132 & 9235 nearest & 9359 a solid resistance, keep stop loss of 9401 to your shorts.
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