If appears USA debt crisis will be solved by 01 Jun because if it does not solve means economic upheveal may happen. However USA can default for a day or two on debt interest crisis and that is when opposition will give in for enhancing debt limit. Make money using our bank nifty option tip on a daily basis.
We had a correction yesterday, more so on account of profit booking rather than creating shorts. SgX Nifty shows a cut of 40 odd points which means Nifty will open at the supports. The range between 18180 to 18240 is a strong support zone and any further shorts will be created only when the level breaks.
We shared the charts yesterday and the break of rising wedge gives us lower Index targets. Expect the Indices to remain under pressure for a few days.
Nifty. Support is placed at 18225 and 18180 with resistance at 18320
BankNifty. Support is placed at 43550 and resistance at 44150. Above 44150, we can see a sharp upmove.
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