BNIFTY:started its downfall from ahigh of 48400+ to the present levels of 44500 shedding almost 4000 points in the process.As of now BNIFTY has 44400-500 its 200DEMA as a major support. Close below its 200DEMA likely to trigger further fall towards 43500.
Immediate resistance lies at 45200 followed by45500.sustaining above 45500 decisively shall attempt a rally towards 46000.
I will be a buyer if it sustains 45200 on 15 min basis for 45500 tgt and trail SL . if it does not hold 44400-500 on a closing basis i would prefer to go for a positional short.(For educational purpose only )