Market tomorrow: expect downside to continue

Nifty future hit low 8095 target 8050

Nifty future hit low 8095 target 8050

Nifty future closed at 8136 with loss. In intraday we saw low below 8100. My intraday sell target achieved by nifty future. Nifty future as expected opened strong and hit high near 8220. But that was strong resistance and we saw strong supply in market at that level. Nifty as expect resumed downtrend and heading for my bearish target of 7860. Nifty trading strategy remain sell on rise. For tomorrow, nifty future intraday resistances are 8175 and 8220. Nifty intraday support zones are 8075 and 8050. From long term view also outlook is not looking good. Below 8155, nifty long term support as well as target is around 7200. BankNifty future hit 17980 target 17750

BankNifty future hit 17980 target 17750

Banknifty future closed at 18285 with loss. We saw sharp drop in this index future on RBI monetary policy announcement. Banknifty on downside have my sell target at 17750 and today we saw low at 17980. Banknifty tried to gain and hit high around 18650. But sell off on news given all gain and banknifty future is now heading towards my short sell target of 17750. Below 17750 next very bearish target as well as support will be 16900. For tomorrow, banknifty future intraday resistances are 18375 and then 18650. On downside 17980 and 17750 are banknifty future intraday support zones. Banknifty weekly chart suggesting 17300 as medium term target for this long term correction. Weekly closing below 17300 means long term downtrend start and 15400 target for this index future.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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