Nifty
The important zone now would be the range between 6845 and 6857. If Nifty stays above this range, we can expect it to move further up to 6890, or even go up to 6939 quickly.As long as Nifty does not fall below the 6800-mark, it would remain bullish.
Bank Nifty
It needs to cross and sustain above the critical level of 13176 then it move up on greater momentum. Given the breakout above 13055, the index is suggesting a possibility of a rapid movement . We can , expect the Bank Nifty to scale up to 13327 – 13440 range . This is with the assumption that there is a correction and the index does not fall below 13016 – 12945 .
The important zone now would be the range between 6845 and 6857. If Nifty stays above this range, we can expect it to move further up to 6890, or even go up to 6939 quickly.As long as Nifty does not fall below the 6800-mark, it would remain bullish.
- Most critical levels: 6845 – 5857, its initial resistance zone
- Strong resistance: 6890 – 6893
- Major resistance: 6939 and 6995 – 7003
- Strong support: 6819 – 6803
- Major support: 6754
Bank Nifty
It needs to cross and sustain above the critical level of 13176 then it move up on greater momentum. Given the breakout above 13055, the index is suggesting a possibility of a rapid movement . We can , expect the Bank Nifty to scale up to 13327 – 13440 range . This is with the assumption that there is a correction and the index does not fall below 13016 – 12945 .
- Most critical levels: 13122 – 13176, its first resistance as well
- Strong resistance: 13327 – 13340
- Major resistance: 13440 – 13556
- Strong support: 13016 – 12945
- Major support: 12779 - 12754