September 2, 2012

 
 
  • Bank nifty crucial support for next week is last week's low 9948. Breaking below this level will take BN towards 200 Day SMA or the Weekly rising support line.
  • Weekly chart shows a contracting triangle pattern. BN is already falling from a Contracting Triangle in DAILY TF
  • Breaking out of this pattern in weekly Time Frame may give bigger moves in BN.

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore