September 2, 2012

BANK Nifty Weekend update

  • Bank nifty crucial support for next week is last week's low 9948. Breaking below this level will take BN towards 200 Day SMA or the Weekly rising support line.
  • Weekly chart shows a contracting triangle pattern. BN is already falling from a Contracting Triangle in DAILY TF
  • Breaking out of this pattern in weekly Time Frame may give bigger moves in BN.