Yesterday remained a weak day for Nifty as we saw profit booking due to the expiry nearby. It unable to breach its resistance level of 7740 and slipped again. 7600 act as major support zone. Bank Nifty too followed nifty and remained weak as it opened gap down and closed at 15725 shedding 282 points.
Now what to expect??
Nifty futures could take support from current levels but if it remains and breached below 7600 then we will see more downside panic till 7530---7480.
7430 act as major support. Its has immediate hurdle at 7740. Further upside rally will see only close above 7740 mark. Till then traders can trade safely with levels only and wait for confirmation as all eye on today's Jannet Yellen speech which is scheduled tonight at 9pm IST.
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