10-03-2016 - Index views

Nifty :

Nifty has closed at 7505.35. As we have stated yesterday, it’s a Buy On Dips market. The dip was recovered in intraday itself, and achieved the first target of 7530 also. Now the second target is at 7580. A close above that may trigger a thrust & it may push Nifty towards 7670 / 7700 also. Slowly 7400 is becoming a stiff support & Stop Loss for longs initiated in recent past. On the breach & close below 7400 / 7370 only, we will discuss about the further levels of the lower side.

Bank Nifty :

Bank Nifty closed at 15,342; even Bank Nifty given a small dip & recovered in intraday with completion of the first target of 15,300. Now it may head towards the second target of 15,700 also. For a short period of time one may keep a closing basis Stop Loss of 15,000 for any longs initiated in recent past. Only a close below 15,000 will require the discussion of further lower side levels. which will be posted here as and when required. Till then, trade safe with levels mentioned.