September 3, 2013

BANK Nifty Resistance levels and Divergence

 
 
  • Bank nifty is testing 5 Day High EMA again. Last 4 attempts to cross this level has resulted in corrections.
  • Current bounce is happening with Positive divergence as shown in second chart.
  • Strength in BN for today only if price is able to sustain above the resistance line and 9233 level shown in last chart. Daily close above this level will add strength for BN bulls.

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