November 7, 2012

BANK Nifty Chart analysis


  • Bank nifty Daily chart testing resistance line. Same chart shows the steady up move of moving averages which looks good for bulls.
  • Weekly charts are not giving clarity. Its still a narrow range with violations on both sides. So week closing outside this range should result in bigger moves.
  • Last chart shows weekly chart with 5 Week High EMA. Bulls need a close above this line for a possible up move. Recent signals have worked well for bulls.



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