Nifty Bank: 15 minutes a candle
1. Nifty bank is looking bearish and most of the banks are in selling spree, specially private banks and lenders. If Nifty bank breaks the level of 38000, then you can see heavy selling with fast movement till 37500 or further 37000.
2. Nifty bank will become bullish when crosses 38550 level and hold for an hour then you can see upward movement but the movement will be slow.
3. If Nifty bank opens GAP-DOWN below 39000, then you can see immediate selling.
4. If Nifty bank opens GAP-UP around 38500, then wait for some time and trade accordingly.
Nifty 50: 15 minutes a candle
Nifty 50 closed below 18000, if it opens flat and goes down then you can see the level of 17800 and it it breaks 17800, then 17500 will be seen in quick time. Upward movement in Nifty 50 will be seen if it crosses 18050 with enough volume and all major components of Nifty 50 should support to go up. But it is looking bearish and on daily chart the price action suggest bearishness in short term.
