March 11, 2013

Bank Nifty Chart analysis

  • Weekly chart of Bank nifty shows a bullish engulfing pattern.
  • Daily chart is nearing possible resistance levels.
  • Price is back to the neckline of the head and shoulders pattern. Price is also nearing the Golden ratio. For bigger up moves price has to sustain above these two levels.

1 comment:

  1. Markets Quantified
    NIFTY 11-Mar-2013
    Current Market Situation :

    NIFTY current close : 5942
    NIFTY resistance level : 6158
    NIFTY support level : 5912
    NIFTY sentiment : sideways
    NIFTY dominant cycle period : 18 days


    Levels Tomorrow :

    NIFTY intraday resistance 1 : 5967
    NIFTY intraday resistance 2 : 5996
    NIFTY intraday resistance 3 : 6037

    NIFTY intraday support 1 : 5917
    NIFTY intraday support 2 : 5889
    NIFTY intraday support 3 : 5847
    Markets Quantified

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