As you could see, market has been continuously breaking supports
and moving down further. Now the next support everyone is watching
is 8630.
After this, the next significant support will come at 8530, 8450.
For Bank Nifty, i would see that the significant support comes at
18,300 - 18450. Once market comes around this price, it would be
great price to go long.
Look out for the Nifty levels of 8450-8500; and Bank Nifty levels
of 18,300-18,450 to cover all short positions and when they start
moving up from there, you could go long.
This may happen in the coming week as we have a lot of events
lined up. On 9th Feb, we have Quarterly GDP data coming in.
On 10th Feb, Delhi Election results will be Out.
On 12th Feb, CPI and IIP data will be out.
And on 13th Feb, we have SBI results. There are whole lot of events
lined up and they all would now show direction for the market.
and moving down further. Now the next support everyone is watching
is 8630.
After this, the next significant support will come at 8530, 8450.
For Bank Nifty, i would see that the significant support comes at
18,300 - 18450. Once market comes around this price, it would be
great price to go long.
Look out for the Nifty levels of 8450-8500; and Bank Nifty levels
of 18,300-18,450 to cover all short positions and when they start
moving up from there, you could go long.
This may happen in the coming week as we have a lot of events
lined up. On 9th Feb, we have Quarterly GDP data coming in.
On 10th Feb, Delhi Election results will be Out.
On 12th Feb, CPI and IIP data will be out.
And on 13th Feb, we have SBI results. There are whole lot of events
lined up and they all would now show direction for the market.
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