June 23, 2013

Bank Nifty Weekend update

  • First chart shows bank nifty falling in a channel. Price at possible channel support line.
  • Second chart shows strong down trend as price could not move above 5 Day High EMA.
  • last chart the weekly time frame with Fib levels shows price at crucial Fib level which may give some relief for bulls if held. This level has also worked as previous support and resistance level.

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