March 17, 2012

BANK NIFTY Weekend Update

  • Price closed the week below  5 Week high EMA which is bearish.
  • Week chart shows support resistance zone between 9950 - 10000.
  • Moving averages shows 50 and 200 SMA close together which will be tough to break. 50 Week sma near 10050 is also an important support level.
  • Multiple support levels if not held corrections will be large. 
By at

2 comments:

  1. SANPOTMarch 17, 2012 at 2:45 PM

    Excellent analysis of B.N. San. Very useful for new traders like me.
    Thanks and regards.

    ReplyDelete
  2. SanMarch 19, 2012 at 8:44 AM

    @SANPOT
    Thanks

    ReplyDelete

Subscribe to: Post Comments (Atom)