For Monday immediate range :- 16950/900—17050/17100

By a staff reporter:

On the down side:- If fails to cross - stays below 17100 & breaches 16950 then– 1st support to be acted at 16888 & then 16780 <2nd support - 30 WSMA - Previous Low >.

If holds then chances of bouncing possible otherwise 16725 <150 Days EMA> -16666 possible as a 3rd support.

Only for extended Bear case below 16600—16487 – 16377 & 200dma 16250 can’t be ruled out.

On the Upside :- Major hurdle on the upside at 17200—17350 & 17400+.

No fresh bullish hope above 17480-500.

Any pull back & higher ends will be the further selling opportunity for traders. Investors may start accumulation as a piecemeal way on dips.

India VIX Friday bounced from support 14 to almost 17~ closed at 16.34.Day to day basis 2.78% up.

Above 16.85 R 19.30—21.7—25.25 Sup 13.80.

Bank Nifty Spot Cl @ 35600~. D to D -930 pts or -2.54%. W to W basis almost -1500 pts or -4%.

Bank Nifty from 37600 to 35600 & W low 35500~. 35300 as per weekly chart 50Weeks Mov Support. That should hold but if breaches then only below that Next probable Supports are 35065--34900—34700. Resistances :- Above 35735 - 36000—36300 & major 36450--36700.

Source : Eureka

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