Market Analysis - technical view.
Nifty and Bank Nifty charts indicate there is ngeativity in the market. BN should contribute the most in the downfall. Though Nifty has taken support at lower trendline, however this should be broken as soon as BN breaches 11000 levels. Oil & Gas may show some respite but BN should eventually drag the markets down.
Target:-
BN (SELL) - SL - 11326, Tp - 10890, CMP-11181.
Nifty (Sell) - if closes below 6150 for targets of 6030.
Market Analysis - Short term view.
The week saw a sudden surge in volatility as well collapse of the same. However, be cautious as the volatility is above the MVA-10.
Gold is nicely poised at 1235 breaking the resistance of 1225.
Silver after showing good gains overnight is building the base.
USD INR making a comeback to 62.24 levels.
Crude and Brent Crude show sharp downfalls.
However, the contra trade is dollar index which is trading from 0.5% - 1% gains across the board against crosses and majors.
From here we are nicely poised for sharp uptick/down-tick in market. But HOLD ON, there are major speeches in line overnight from FED officials. This event will be critical as this would mark the future market direction for next week.
Nifty and Bank Nifty charts indicate there is ngeativity in the market. BN should contribute the most in the downfall. Though Nifty has taken support at lower trendline, however this should be broken as soon as BN breaches 11000 levels. Oil & Gas may show some respite but BN should eventually drag the markets down.
Target:-
BN (SELL) - SL - 11326, Tp - 10890, CMP-11181.
Nifty (Sell) - if closes below 6150 for targets of 6030.
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| Bank Nifty |
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| Nifty |
Market Analysis - Short term view.
The week saw a sudden surge in volatility as well collapse of the same. However, be cautious as the volatility is above the MVA-10.
Gold is nicely poised at 1235 breaking the resistance of 1225.
Silver after showing good gains overnight is building the base.
USD INR making a comeback to 62.24 levels.
Crude and Brent Crude show sharp downfalls.
However, the contra trade is dollar index which is trading from 0.5% - 1% gains across the board against crosses and majors.
From here we are nicely poised for sharp uptick/down-tick in market. But HOLD ON, there are major speeches in line overnight from FED officials. This event will be critical as this would mark the future market direction for next week.
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