February 4, 2011

BANK NIFTY Technical analysis

 
 
  • Bank nifty is getting support near the golden ratio. But if this support level is taken out next support lies at 9700 level which is the 78.6% retrace level in weekly chart.
  • Important levels to cross on the upside are 10700 and 11150.
  • Third chart shows Bullish engulfing pattern in daily chart. These patterns are effective when  they occur at the end of a down move.
  • TRIANGLE BREAKOUT - GOLD


No comments:

Post a Comment