Stock Market Chart Analysis
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
February 2, 2012
BANK NIFTY Near resistance lines
Daily chart managed to close above 200 SMA.
Weekly chart has the tougher task of breaking out of the channel.
Indicators have come to the overbought zone in weekly time frame. So there has to be a breakout for sustaining this up move.
Bears badly need a negative weekly candle at this level.
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