June 28, 2013

BANK Nifty Chart analysis

  • Bank nifty daily chart nearing 5 Day High EMA. This has acted as perfect resistance level to go short for the current down move. Now for  a pause or change in trend price must trade above this line.
  • Weakness below 11033 for a possible fall towards 10897.
  • Current fall is getting ready to give its sixth bearish weekly candle and price is close to crucial levels like 100 Week SMA and Weekly Lower Bollinger band Which may result in a bounce in the coming week.

1 comment:

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