This week can be make or break for indices.
Nifty on weekly charts just on the verge of break out. If that happens then it will prove my earlier assumption wrong and Nifty will be ready to fly high for new highs. But if it failed to do so then it could be the best selling opportunity.
Now on daily charts Nifty is also about to face resistance at the trend line joining the two recent swing highs. 10850-10860 will be the resistance zone.
Now BankNifty on daily charts touching the resistance trend line.
BankNifty on weekly charts the resistance is coming around 27000 so still 500 points to go, but i just see a probability of forming of a rounding top. Just a probability.
Now first my charts are raw as i am a novoice.
Next a disclosure i am not a SEBI certified analyst so please consult your financial adviser before acting on this call. Further i do not hold any position in any of the two index futures, but holding some Nifty options.
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