Nifty break 7000, Will it close below 200 WSMA,EOD Analysis

• FII's bought 8.5 K contract of Index Future worth 415 cores ,10.4 K Long contract were added by FII's and 1.8 K short contracts were added by FII's. Net Open Interest increased  by 12.2 K contract, so fall in market was used by FII's to enter  long and  enter  shorts in  Index futures. Nifty Crashes 1000 Points in 2016 :Reason for sharp fall
  

As discussed in Last Analysis  Nifty closed below 7230 made low of 7177 before bouncing back, if tomorrow also we close below 7230 we are heading towards 7118/7120, which is demand zone and very important GANN Number, if 7120 is held we can see a sharp and shift move on upside. Bullish on close above 7230. Nifty opened gap down below 7230 corrected till 7120 and once unable to sustain below 7120 showed the big fall which went below 7000 trading at 22 week low

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Bank Nifty breaks 14000, EOD Analysis

• As discussed in last analysis If Bank nifty continue to trade below 14500 we can head towards 14338 which is PRZ of ABCD pattern and Weekly supply zone also as shown in below 2 chart. Bullish only on close above 15000, Bank Nifty broke 14338 did not stop hence invalidate the ABCD pattern and also demand zone, one the pattern got invalidated we got a fast and furious decline and bank nifty broke 14000 also, Such is the beauty of harmonic pattern combined with supply demand zone, once it gets invalidated you get fast fall. Now Bank Nifty is near its 200 W SMA, which if broken on weekly closing basis can see Bank nifty declining all the way till 12500-12800. Next demand zone lies 13600.   .Nifty Crashes 1000 Points in 2016 :Reason for sharp fall

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Nifty Crashes 1000 Points in 2016 :Reason for sharp fall

The BSE Sensex plunged over 700  points and Nifty declined over 220 points and Nifty closing below 7000 lowest sinse May 2013. Nifty has now corrected 1000 points in last 66 trading sessions. Let me put the reason from both Technical and Fundamental Perceptive, Below is the complied list of fall in sensex from ET.

1. Fundamental

• Rise in NPA of Banks:

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SBI,Bank India and Jubilant MML Analysis

SBIN

Positional/Swing Traders can use the below mentioned levels

Holding 157  Tgt 165/178

 

Intraday Traders can use the below mentioned levels

Buy above 161.5 Tgt

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Nifty close below 7230 to invalidate harmonic patterns,EOD Analysis

• FII's sold 9 K contract of Index Future worth 417 cores ,65 Long contract were added by FII's and 9 K short contracts were added by FII's. Net Open Interest increased  by 9.1 K contract, so fall in market was used by FII's to enter small qty long and  enter good amount of shorts in  Index futures. Bad Trading Habits and How to Avoid Them
  

As discussed in Last Analysis Nifty closed below 7300 and made low of 7275 to full fill BAT pattern condition now if we do not break 7230 we might rally to form the final leg of BAT pattern, any close below 7230 invalidates the pattern. Also a small ABCD pattern can be seen which gets completed in range of 7257-7230 so again 7230 needs to be watched for next 2 days to see if patterns are failed or

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