You can see that Nifty has been breaking supports one after another.
Since AAP shows huge majority as per exit polls, it is a sentimental
dampener for the market. Along with that S&P has downgraded Greece.
So overall market conditions could bring Nifty further down.
Options data have started showing that there is possibility of Nifty even
moving towards 8300. The Nifty levels to be watched are - 8530, 8450,
8380, 8330.
Bank Nifty will have supports at 18500, 18300, 18000, 17800, 17500.
Only after you can see prices taking support, we might see some buying
coming in. Until then, we need to be on short positions only.
Since AAP shows huge majority as per exit polls, it is a sentimental
dampener for the market. Along with that S&P has downgraded Greece.
So overall market conditions could bring Nifty further down.
Options data have started showing that there is possibility of Nifty even
moving towards 8300. The Nifty levels to be watched are - 8530, 8450,
8380, 8330.
Bank Nifty will have supports at 18500, 18300, 18000, 17800, 17500.
Only after you can see prices taking support, we might see some buying
coming in. Until then, we need to be on short positions only.
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