As expected, we have seen negative bias trading in Nifty and Bank Nifty. Nifty crashed vertically and made a low of 7810 and 16940 respectively. We recommended selling below 7910 mark.
Now what to expect???
Nifty future has support at 7793. Close below 7793 will see further panic till 7768---7748 and then to 7709 mark. More and more pani will see only close below 7690 mark else it could test its resistance level of 7861---7893.
Close above 7893 will see further upside rally till 7928---7953+ mark
We will expect range bound trading in Nifty for next few trading sessions. Trading range 7690---8100
Today's top pick
SBI.... Below 240.50. Sell it!! We will see panic till 237---233. More and more panic will see only close below 233 mark
If break and sustain below 240.50 then maintain stop loss above 243 mark
More will update soon...
