January 8, 2011

BANK NIFTY Weekend update

  • Bank nifty has broken an important trend line in its weekly chart.
  • With yesterdays lower close price has confirmed yet another bearish engulfing pattern in weekly chart.
  • Next support is seen near 10730 levels.
  • Problem for bank nifty is that if 10730 level breaks on closing basis there is not support seen in weekly chart till 9870 levels.
  • FALLING WEDGE OF CRUDE OIL

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