1 Oct Tech View

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[08:24, 01/10/2014] Dhawal: Nifty 7964
Yesterday’s move clearly stated that Nifty is playing with 20 days EMA levels since mid September. Since three trading days, Nifty is experiencing volatility in later part of the day and providing uncertainty over bulls and bears. Daily as well as hourly momentum indicators are reading minor bearish. Nifty intraday support placed at 7940 – 7915 levels and resistance placed at 7986 – 8010 levels.

Bank Nifty 15392
After flat opening Bank Nifty has witnessed volatility throughout the day and finally ended with “DOJI” an uncertain candlestick pattern on daily chart. Daily as well as hourly momentum indicators are generating weak signal on chart. Bank Nifty intraday support placed at 15330 – 15280 levels and resistance placed at 15465 – 15530 levels.

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