January 28, 2012

BANK NIFTY Weekend Update

  • BANK NIFTY closed near the resistance levels in weekly chart. 
  • Price is also nearing 50 Week SMA and channel resistance line. 50 Week SMA is near 10100 for now. 
  • Daily chart shows two red candles near 200 SMA. But yet to close below short term moving averages. This up move has been a trend followers delight with close above 10 Day EMA Giving close to 1600 points till now.

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