Today is the day of continuation. If the reversal of yesterday has any strength, then we should see some follow-up today, especially in Bank Nifty, and that too on weekly charts. If we, get a close near the highs of the previous week, then we can say that we have an intermediate reversal in place.
Commodity prices are falling giving hoes of lower inflation. This is a relief for macroeconomic factors and should continue for this week. Today we will be starting the final week of the month, which is very important as a chart. Monthly closing candles are very important to determine immediate trends.
Nifty. Support is clearly placed at 15480 and resistance is placed at 15700. Till we cross levels of 16000 we cannot say, we are out of risk.
Bank Nifty. Should be the surprise of the week. Support is placed at 32700 and resistance at 33800. Any dip is a buying opportunity.
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