Nifty view
Nifty future opened lower due to bad US market last week . It tested low of 7579 . But recovered smartly from there and now trading at 7655 . A good resistance in major index future today at 7691 . If market break this and sustain above our resistance level then expect market to test upto 7730 – 7770 today .
If nifty future break our index support at 7575 and manage to sustain below our support level then expect market to favor sellers upto 7520 – 7460 today .
Banknifty trend
Banknifty future tested low of 16255 . But recovered approx 200 points from there . A good resistance in banking index future at 16510 . If market break this and sustain above our resistance level then expect market to test upto 16640 – 16800 today .
If banknifty future break our technical support level at 16230 and manage to sustain below this level then expect market to favor sellers upto 16100 – 16000 today .
Nifty Banknifty view conclusion : Market trend is in favor of buyers till today’s lows does’nt breach .
More will update to our trading tips subscribers