Nifty (16411) we said’ the Nifty has closed mildly in the red but the larger structure looks weak and I see a flag formation… the breach 16900 will be bad for the market’ the Nifty unfolded as expected and has closed in the red…technically it still looks weak…stiff resistance exists at 16600 and downside is open…
Bank Nifty (34591) we said’ the Nifty bank too has closed flat for the day but the larger structure looks weak and so and down side is bad for the market’ the Nifty unfolded weak as expected and has closed in the red…technically now stiff resistance exits at 35500 and downside is open…