June 14, 2010

Bank Nifty Weekly analysis

BANK NIFTY WEEKLY CHART

  • After getting support from around 9140 bank nifty is moving up.
  • On friday as you can be seen from the first chart bank nifty has closed above its 10 day, 20 day and 200 day moving average.
  • Trading above 9455 will be positive and can lead to the next resistance level which are at 9510
  • And bank nifty is converging between an upper and lower trend line in the weekly chart this means it will break out soon. And the result will be big.  

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