NIFTY VIEW

SUMMARY:-
*nifty has hit 50% retracement near 16850
*16850 has been crucial support zone for the market previously
*17200 and 17000 put option had max writers and majority of them were retailers
*with a panic low and yesterday inside bar break we can assume that 16850/17000 can act as crucial support
*index may also break a bearish trendline visible on daily chart

-TODAY WE HAVE AN INSIDE BAR BREAKOUT
-BEARISH TRENDLINE BREAK ON THE CARDS

good things going:-
icici bank results on sat
due to hdfc bank results
all banking stocks have absorbed negative news
icici bank has been outperforming hdfc bank in last 4 qtrs
last time when hdfc bank posted bad results we were down bad
and icici went on to hit circuit
if icici bank results outperforms on sat

then god bless all relative strength banking stocks
axis/sbin and icici bank will blast and we can expect 1000+ move on monday