July 16, 2012

Bank Nifty Charts and India VIX

  • Bank nifty daily chart with MACD Histograms is showing negative divergence. There is no MACD sell signal yet.
  • For bears of BN we need price to breakdown from the channel shown in first chart. BN is also trading close to the weekly upper bollinger band which may act as resistance. 
  • India VIX is trading close to a crucial support line which may lead to a turnaround.

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