Nifty and Bank Nifty..Way Forward…

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CNX Nifty

• Index opened with a positive momentum & closed flat to positive but faced tremendous stock specific selling pressure.
• Going Forward, Till 7770 does not cross, expect a retest of the support zone 7650.
• If crosses & sustains above 7770, can move up further upto 7830- 7850.
• Daily Momentum has turned into negative while Weekly momentum is in positive territory indicating Index to trade in a broad range of 7650-7770.
• Going Forward, Till 7770 does not cross, expect a retest of the support zone 7650. If crosses & sustains above 7770, can move up further upto 7830-7850.

Bank Nifty Spot

• Index opened with a positive momentum & continued its short covering upmove closing in the positive by 1.3%.
• Going Forward, Till 15050 does not cross, expect a retest of the support zone 14800.
• If crosses & sustains above 15050, can move up further upto 15400.
• Daily Momentum has turned into negative while Weekly momentum is in positive territory indicating Index to trade in a broad range of 14700-15050.
• Going Forward, Post gap down opening, Till 15050 does not cross, expect a retest of the support zone 14700. If crosses & sustains above 15050, can move up further upto 15400.CNX Nifty
• Index opened with a positive momentum & closed flat to positive but faced tremendous stock specific selling pressure.
• Going Forward, Till 7770 does not cross, expect a retest of the support zone 7650.
• If crosses & sustains above 7770, can move up further upto 7830- 7850.
• Daily Momentum has turned into negative while Weekly momentum is in positive territory indicating Index to trade in a broad range of 7650-7770.
• Going Forward, Till 7770 does not cross, expect a retest of the support zone 7650. If crosses & sustains above 7770, can move up further upto 7830-7850.

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