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Nifty has formed a Big Red candle with a significant range following yesterday’s pattern.This also signals a reversal pattern Three Black Crows usually formed at Top of a Trend.n a strong uptrend it essentially signals a Short term reversal, a pause or a Retracement towards support Levels. Nifty and Bank Nifty both have breached their immediate support levels at 11625 and 27850 respectively. Nifty has strong support at 11400-11500 levels and Resistance at 11800.#BankNifty has strong Support at 27410-380 levels with resistance at 27850 levels.Nifty Futures closed down 60.80 Points at 11580.95. Bank Nifty too followed the trailand closed at 27637.95 losing 376 points. Both the Major Indices have erased the gains made last week. Nifty opened flat at yesterday’s close. Markets did try to resume to day’shigh before the European markets opened. Following the Cues from International Markets, Nifty and Bank Nifty both fell to day’s low posting a negative close.We may see more downside in this continuation of bearish pattern. The Volatility has again risen today breaking out from a falling trend line on weekly charts. India Vix, the volatility Index, was up 2.87% at 13.7775.Indian Markets have been caught in a dire situation. While the rising Crude oil price may spike inflation in near term, it also impacts adversely on import bills. The Indian Currency has touched record highs against Dollar at 71.73, depreciating in value with no signs of recovery.For more information on stock tips and quick free trial click here > 911 133 9000 Visit http://www.epicresearch.co
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