Nifty (16240) we said’ technically it still looks weak…stiff resistance exists at 16600 and downside is open’ the Nifty traded lower and closed in the red as expected…technically the Nifty is so stretched that a bounce back is not ruled out….
Bank Nifty (34483) we said’ technically now stiff resistance exits at 35500 and downside is open’ the Nifty Bank traded lower and closed in the red…technically 34000 is a strong support zone to deal with and bounce back is a possibility…