Nifty and Bank Nifty ….Way Forward…

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Nifty

• Index opened with a positive momentum, however faced selling pressure on rises, closing 0.4% in the red.
• Going Forward, Till support zone 7840 holds, Index can further move upto 7940-7960.
• If breaks & sustains below 7840, can fall upto 7800-7780.
• Daily as well as Weekly Momentum has turned into positive territory indicating buying support at dips.
• Going Forward, Till support zone 7840 holds, Index can further move upto 7940-7960. If breaks & sustains below 7840, can fall upto 7800-7780.

Bank Nifty

• Index opened with a positive momentum, however faced selling pressure on rises, closing 0.25% in the red.
• Going Forward, Till support zone 15370 holds, Index can further move upto 15,700-15,800.
• If breaks & sustains below 15370, can fall upto 15100-14950.
• Daily as well as Weekly Momentum has turned into positive territory indicating buying support at dips.
• Going Forward, Till support zone 15370 holds, Index can further move upto 15,700-15,900. If breaks & sustains below 15,370, can fall upto 15,100-14,900.

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