sorry for the late update...
Nifty update:
Hourly short term -ve divergence propelling a correction here. Now we need to observe nature of correction. Whether its timewise or pricewise, and we know timewise correction will be in bulls favour.
Intermediate on hourly is turned down. And i am expecting weakness below sustaining mornings low. Until 8115 taken up, its weak for the day.
Crucial levels to watch for downside are 8075 / 8040/ 8000
A strong market will turn up from 8040., and will try to close above that today.
A newer study which i am tracking since past two years is how market changes after expiry and tracking the strength above/weak below number for it.
So for this move below 8060 will put pressure on downside.
BankNifty update:
Negative divergence on short term and turning down by intermediate is sign of weakness on intraday charts. Infact it turned down before nifty.
Until 16140 taken out its a weak case for the day.
crucial levels to watch for downside are 15970 / 15880 Infact a strong market should hold 15970 zone and trying to close above it.