Both Indices at imp levels

Nifty n BNF

Nifty CMP 26460

Fib Ext - the Index is just shy away from its all time high. The 24750 remains an imp support for the Index. The Index is at 1.5 fib resistance. Hence above 25460 we will see the highs again. On the contrary below this zone we will see 24750. In my view this zone is the most crucial support and break below this zone will bring in fresh selling.

BNF CMP 57032

The fib ext at 1.618 is at 58K. The Index has made a high of 57628. Hence to me the Index is right at resistance.

Conclusion -Major down trend will only happen once the trendline is broken. Both the Indices are at crucial zones. For Nifty 24750 is the crucial support and resistance back to the highs of 26300. BNF resistance is at 58K. In my view next week will be action packed week.