Yesterday, we recommended selling in Nifty futures below 15825. It made a low of 15758.70 and settled around 15785.60
Now, what next???
Nifty futures has support at 15750 and resistance at 15860—15930—16000.
If Nifty future unable to breach its support level of 15750 then it could test its resistance level of 15860—15930—16000 levels.
More and more upside rally we will see on a close above 16000 levels on a weekly closing basis or else it could test its support level of 15750 again.
Break and sustain below 15750 will take Nifty futures to 15670—15630 and then to 15480 levels in days to come
Trend line support is at 15750 while crossover RSI is showing negative diversion on the daily chart. So traders remain cautious at upper levels. More we will update during market hours on our whatsapp broadcast.
On the other hand, Bank Nifty too slipped and our downside target almost achieved
Bank Nifty futures made a low of 35090.05 and settled around 35186.10. We recommended selling below 35350 levels
Now, what next???
Bank Nifty futures has support at 35000 and resistance at 35500
Break and sustain above 35500 will take Bank Nifty futures till 35800—36100 levels. More and more upside rally we will see on a weekly close above 36100 levels only or else it could test its support level of 35000 again.
Break and sustain below 35000 with volume will take it to 34550—34050—33800 levels.
Today, traders remain cautious for first 45 minutes of trading to find the clear trend in the market. More we will update during market hours on our Whatsapp broadcast list.