Bank Nifty Support & Resistance Levels for 01-Jan-2016

BANK NIFTY TREND -CONSOLIDATE

BANK NIFTY FUTURE LEVELS 

SUPP 1: 16630 

SUPP 2: 16450

RES 1: 17170

RES 2: 17380

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Nifty Technical Overview:

Nifty futures opened around 7900 level and consolidated in morning session at the level, which acted as major support and bounced in later part of the day on expiry. On Friday if it sustain above 7930 and break 7960 then it can test the level of 8000 by the end of the session.

Bank Nifty Technical Overview:

Bank Nifty futures opened on flat note and witnessed consolidated movement for the entire day in the range of 16950-16900. Tomorrow it is expected to trade in range of major resistance of 17000 and major support level with 200 days EMA’s support of in 15 chart of 16940.

INDIAN MARKET OVERVIEW
Equity benchmarks ended last day of the year 2015 on a positive note despite tepid global cues amid thin volumes. Nifty future down 30 points at 7901.
The 30-share BSE Sense up 157 points at 26117. The market breadth was strong as about 1452 shares advanced against 1192 declining shares on the BSE.
Shares of Cadila Healthcare crashed 16.7 percent intraday to hit a 52-week low of Rs 320.45 on Thursday, reacting to a warning letter from the US health regulator for two Gujarat units.

GLOBAL MARKET OVERVIEW
Asian markets traded flat on Thursday, the final trading session of 2015.
The ASX 200 index was up 0.08 percent at 5,324 with both energy and materials sectors in the red.
Major US indexes closed in the red, with the Dow Jones Industrial Average down 117 points at 17604. The S&P 500 finished 0.72 percent lower at 2063 while the Nasdaq Composite index shed 0.82 percent to close at 5066.