August 23, 2012

BANK NIFTY Chart analysis

 
  • BN Daily chart shows a contracting triangle pattern .
  • Support for the stock is at 50 day SMA. 
  • Weekly chart is hanging around 50% Fibonacci level. When the triangle gets resolved we should see a move towards either golden ratio or 38.2% Fib level depending on the direction of the breakout.
  • SILVER RESISTANCE LEVELS
  • GOLD RESISTANCE LEVELS



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