Nifty Hourly 09-03-15

Hi,

So today Nifty opened 46 points below the previous closing and went lower and lower breaking the trendline present since January which also followed greater downside momentum. At present nifty closed at a critical juncture. Another fall of around 15-20 falls could make this downtrend extend. 8600 presents a good target zone as of now.

Nifty

Buy Above 8792 (pivot)

Sell Below 8720

Support – 8700,8651,8600

Resistance – 8800,8840,8892

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