02-02-2016 - Index views

Nifty :

                        Nifty closed at 7565.35. After a huge up day, Nifty is consolidating. It has given a flat to slightly negative close. In our previous reports, we have stated about the targets of 7600 / 7620. It has almost touched and completed the target. Now the price behavior and the pattern making is very important around this target / resistance level. Looking and analyzing the behavior will reveal the further price action and the probable road map. Till then there is no change in levels of 7620 on the upper side & 7420 on the lower side.

BankNifty :

                        BankNifty closed at 15,363.30. Like Nifty, in the same manner, BankNifty also moving in a specific pattern. After completing the first initial target of 15,700 around, this is now in a consolidation mode. Even in this we have to see the price action and behavior at this juncture to decide the trend. We are just waiting for the follow up buying come to the scene. Only then we can be sure of a long move. Levels are the same. 15,700 & 16,200 for upper side & 15,100 are there for lower side. Keep these levels in mind and trade safe.