November 24, 2011
- NIFTY and Bank Nifty are closer to their channel bottom lines But to reach there they have to break some more serious support levels. So i don't think price will reach their without giving a pull back first.
- If one see the bank nifty channel, price has halted on a falling support line as of yesterday. If this support line is held we may see an up move.
- For nifty we saw price breaking below 4720 But yet to see big follow up selling. So if bulls manage to reclaim 4720 on closing basis we may see a bounce. Failing to close above 4720 will favor bears.