If Nifty moves down below the level of 6758 and stay there then expect it to test the next significant support area between 6715 and 6708. But it will not fall below 6650 and buying will pick up there for the return journey to new heights.
- Most critical level: 6758, its first support
- Strong support: 6715 – 6708
- Major support: 6667 – 6656
- Strong resistance: 6796 – 6801
- Major resistance: 6847 – 6859
The Bank Nifty is weak but not as much as the nifty.The range between 13025 and 12975 happens to be a support area,r any decisive break below this zone would mean chances are the index will fall further and affect the nifty as well. As long as the index holds itself above 12787 today, it would retain its bullishness not withstanding any selling from levels.
- Most critical levels: 13025 – 12975, first support zone as well
- Strong support: 12949 and 12881
- Major support: 12816 – 12787
- Strong resistance: 13055 – 13176
- Major resistance: 13268 - 13327