Monday, March 28, 2016

NIFTY AND BANKNIFTY OUTLOOK FOR 29th MARCH 2016

Morning !

As mentioned in yesterday's blog - "any break and trade below 7675 on 1 hour chart would create sudden panic on downside." 

It happened in the same manner from 12:25 PM to 1:25 PM....market broke and traded below 7675 on 1 hours chart....it created sudden panic and within 1 hour 30 minutes from 1:25 it made low of 7587.

Banknifty too behaved in the same manner as mentioned yesterday - "BANKNIFTY any breach below 15780 and 15700 zone and trade below this zone on 1 hour chart should result in sudden fall till 15450."

Banknifty did that in 30 minutes only...from 1:25 pm to 1:55 pm. it broke the zone of 15700 and reached to make low of 15522. a fall of sudden 200 points in next one hour.

Today NIFTY has opened at marginal gap down by 8 points .....levels for downside are as follows for today......7580-7530-7480.

BANKNIFTY has opened at marginal gap down by 21 points....levels for downside are as follows for today......15530-15420-15320.

Happy Trading !

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