Nifty view
Nifty future crashed yesterday . Even today its trading flat at 7655 with minor positive . Good support on chart at 7620 . If market break this and sustain below our technical level support then expect bears to take charge again upto 7570 – 7520 today .
If nifty future click our technical resistance at 7700 and sustain above our intraday hurdle level then expect some respite for buyers upto 7740-7780 today .
Banknifty trend
Banknifty future undeperforming main index . Its trading in minus at 16690 . A good support on chart at 16600 . If market manage to break this intraday level and sustain below our support then expect bears to take charge upto 16500 – 16370 today .
If banknifty future manage to break our chart resistance at 16820 and sustain above our intraday hurdle then expect market to fire upto 16950 – 17090 today .
Nifty and banknifty view conclusion : Market trend is in favor of sellers . Avoid any buy position
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