A quick and a simple technical view without any bias of the unconvential things happening around us.
Nifty Technical View
- Nifty did break the 8450-8500 but did not sustain there and reversed in a few sessions.
- Trendline resistance is at 8630 and recent highs at 8750.
- Sustaining above 8630/8750 would indicate the momentum has shifted to up again.
Bank Nifty Technical View
- Again a similar breach of supports and a reversal back to the resistances.
- Sustaining above 20000 would indicate momentum to shift to up. We are trading around that 20k mark with some of the larger PSU Banks crossing 52 week highs or near to the same.
