Yesterday, Nifty futures made a fresh weekly low of 15696 and settled around 15710. We clearly indicated selling in Nifty futures below 15825 and 15750 levels. SGX Nifty is trading around 15750. Dull downside move is creating panic in the mind of traders and investors; VIX near to 52 weeks low
Now, what to expect???
Nifty futures has support at 15675 and resistance at 15780—15840—15890.
Above 15780, it could test 15840—15890 again or else it could test its support level of 15675.
Break and sustain below 15675 will see more downside panic in Nifty futures till 15630—15580 levels
Since VIX is near to 52 weeks low, trade safely as per the levels given above. Anything major seems then surely we will update during market hours.
Bank Nifty took support at 34800 levels; Don’t miss to read our weekly update
Bank Nifty future hs support at 34800 and resistance at 35100
Break and sustain below 34800 will take it to 34550—34400 and then to 33900 levels or else it could test its resistance level of 35100 again.
Break and sustain above 35100 will take Bank Nifty futures till 35350—35500.
More and more upside rally we will see on a weekly close above 35500 levels only
Bank Nifty has major resistance at 36100 levels.