Last week i had mentioned that "dow had made a double bottom around 10,260, and if broken can creat HAVOC in the world markets", and yes thats exctly what we saw last week. Now dow has support around 7450 levels, thats apprx 1000 points from here. for any positive moves, dow has to close above 8881, which may bring in a relief rally.
For Nifty, it looks like it got support at one of its medium term trendline which may or may not hold.as of now if nifty holds friday's low of 3216, it can pull back to 3389-3517-3610 levels for the week, breaking it would mean 2890 on the cards. Closing above 3389 may quickly take nifty to 3517 levels
Now for intraday, again supp around 3216, if broken, may see 3140 levels.if 3216 is held, nifty may pull up to 3335-3389 levels, where it will face strong resistence.
(EOD chart attached,all fut levels)
(EOD chart attached,all fut levels)
