As the Global markets are down, U.S dollar is at high, Crude oil prices are also at the high prices & all of these are inversely proportional to the Indian market.
If the prices of crude oil & dollar index increases Indian market will show weakness.
Also, FIIs are aggressively selling & DIIs are bullish which could be a trap for the retail investor.
In Nifty, if market closes below 19600 we can see the furter downfall till 19560 & 19500
Where 19500 could act as a good support for tomorrow.
If holds 19700 we can see a short covering till 19750 & 19800
Similarly in Banknifty if 44450 is broken we can see further downfall uptil 44200-44160 zone.
Can enter in calls only if breaks 44800 with a confirmation candle for the target of 45000.
(The above information is for educational purpose only)
