11-03-2016 - Index views

Nifty :

Nifty has closed at 7483.70. Wow. What a move we had today. Nifty exactly did both the targets as expected. 7530 & 7580 were the targets. It did touch 7583 in the morning and as we have stated, it did not sustained the level & came down. Now as we have mentioned earlier, we have supports at 7400/7370, any dip around these levels will be a buying opportunity. In case of any up move, the upper targets are intact at 7670 / 7700. Below 7370 we may touch 7240 also but that possibility seems very rare, at least at this point in time.

Bank Nifty :

Bank Nifty closed at 15,234.10; there is no change in levels as yet. Bank Nifty traded flat to slightly in negative zone. As we have stated, the support zone is intact at 15,000 for short period of time. As stated earlier, at around 14,700 we may decide whether to buy for short term or not. Above 15,700 we may see 16,100 also. Trade safe & trade with levels mentioned.