NIFTY;BANK have a key date today,
so as we discussed on last thursday todays intraday LOW combined with 5th,FEB LOW is going to be absolutely critical.
BANKING INDEX is going to be very critical going forward.
this week is an important week because we have BUDGET and FOMC meeting during the week.
for U-S-MARKETS specificlly we are expecting a REVERSAL to begin most likely in 2nd half of this week.
for INDIAN MARKETS after a 987 point correction on NIFTY and more then 4,000 point correction on NIFTY,BANK it would be fine if we attempt some bounce.
RESISTANCE for NIFTY is at 21,800 on spot,
Rallies are still an ideal apportunities to short but only for MARCH series.
for extreme short term wide intraday swings would help to make profits.
Our positional targets continues to stay at 21,050 and 20,750 on downside,
but that will take TIME.
for NIFTY the PRICE-TIME-EQUALITY level from 22,124 comes at 21,385 on spot,
so use this level as an indication for the resumtion of another leg lower.
gann,insides 