September 26, 2012

BANK NIFTY Chart analysis

  • First chart shows BN resistance near 11450. BN Bulls need a weekly close above this level for targeting the next level shown in the same chart.
  • Golden ratio should be held on closing basis. Weekly close below 61.8% should result in a bigger correction.
  • Daily chart is holding above 5 Day High EMA. Weakness only if day closes below 11307 level.s

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