NIFTY Technical Analysis
Nifty Close 8637 with support seen at 4 Days EMA. Today’s low was formed at 8591 and below it lies 13 days EMA at 8570.
Nifty has a strong resistance around 8725. Traders can consider a short position near the 8700-8715 range with lower target of 8580-8449 in 3-4 days. Stop above 8725.
If Nifty close above 8725 then we can see short covering upto 8780-8820.
Bank NIFTY Analysis
Bank Nifty Close 18741 , Bank Nifty has broken Important Support level 18793 Which is 13 days Ema , RSI & Williams are also broken from over bought level.
Next Target on downside can be 18456 -18049 with SL 18830 on closing basis. If it close above 18830 then we can see short covering 18879-19000 level.
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