Tech View 8 Sep 2014

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Nifty 8086
Last week Nifty has tested all time high and seems entered in consolidation zone above 8100 levels. Technical scenario turns buy on dips as long as Nifty is above 7925 levels. Daily as well as weekly momentum indicators are generating weak signal on chart. Nifty intraday support placed at 8060 – 8040 levels and resistance placed at 8110 – 8135 levels.

Bank Nifty 15982
Last week Bank Nifty has witnessed weakness at higher level with lower lows in last three trading days. Still short term trend remains bullish as long as Bank Nifty is hovering above 14730 levels. Daily as well as weekly momentum indicators are generating bearish signal on chart. Bank Nifty intraday support placed at 15930 – 15865 levels and resistance placed at 16037 – 16087 levels.

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