BANK NIFTY Analysis

• NIFTY Month chart shows the current month candle near the apex of a possible triangle pattern. According to the rules of the pattern price breakout may give 4200 points.
• Second chart shows MACD in buy mode, Next chart shows STOCHASTIC in a possible sell mode. short term looks weak but if the lows are not taken out MACD can still remain in buy mode like it did in the last Buy signal which is marked on 2nd chart.
• Price closing below 20 day moving average will favor bears. 50 DMA will be the resistance for an up move.
• NIFTY WEEKEND UPDATE