Nifty (16972) we said ‘the Nifty seems to have taken support near the 17000 mark and if it breaks then 16800 is also possible and if it survives then a 17300 too is possible’ the Nifty opened in the green but traded down to close in the red…technically it still looks down unless 17250 is not taken out…
Bank Nifty (39501) we’ the Nifty Bank has seen a low near 39000 and I would say that 39000 is an important level to watch if it survives and if breaches then 38500 too is possible but it survives then a strong resistance exists at 40000’ the Nifty bank too opened in the green but traded down to close in the red…technically it still looks down unless 39800 is not taken out…