Update on Nifty and Banknifty Spot

Summarily Nifty has to retrace 10033 within 12/15 days and Banknifty has to retrace 24617 within 12/15 days and both Indexes may have to be watched together. So, if about 25701 (25923 - safer) and 10600(10667 - preferably) if not taken out comfortably the danger of the above retracement will remain. Lower side closer to 10425 for Nifty and closer to 25000 for Banknifty are big supports. The correction if happens will be quiet deep in case the level gets broken quickly. So, within 6th to 9th March, 2018 we remain prone to deep downsides. Till then only intraday trades, positional trades are risky for gap-up and gap-down situation. Enjoy the buy on dips and sell on rallies unless things gets directional !

Update on Nifty and Banknifty Spot

If Nifty / Banknifty  is able to recapture the higher side of the given level(s) then we are done with the lows and it may at best turn sidewise and expect a bigger pullback.  Downside will get limited.

Update on the Indexes - Nifty and Banknifty Spot - EOD 14-2-2018

Nifty Spot
10456-10501 Crucial on the downside
10577-10591 Crucial on the upside

Banknifty Spot
25212-25342 Crucial on the downside
25811-25921  Crucial on the upside

This is a highly complicated trading environment and day to day trading time. Broadly 10400-10600 range trading going on in Nifty and 25200-25800 in Banknifty.

Range breakout will determine the next move. Expected b-wave after the last fall of 6 days enters the 6th day today.  Friday will be crucial.