Weekly Market Eye: Nifty and Bank Nifty remains Bearish

Nifty Nov Futures last week total down trend, it’s open at 6371 High @ 6383 , low @6165 close @ 6182. we are expecting next week major support @ 6080 will break and come down may be upto 5800 levels.

Bank Nifty Nov Futures last week down trend, High @11835 low @ 10925. we are expecting may coming week it will come down, major support @ 10590. we are expecting 10800 one or two trading sessions. Major Bank’s  SBI , BOB , BOI , YESBANK , AXIS BANK , ICICI BANK these are also may participate down trend rally.

These Recommendations are based on TECHNICAL ANALAYSIS, THEORY, RESEARCH and NEWS. Due care has been taken while preparing these comments, no responsibility will be assumed by author for the consequences what so ever, resulting out of acting on these recommendations we are not responsible for any losses made by traders. The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis and news. The author does not accept any liability for the use of this column. Readers of this column who buy or sell securities based on the information in this column are solely responsible for their actions. Neither the author nor his company either trade or have position in any Call mentioned in this column.