June 6, 2014

Bank Nifty chart analysis


  • Bank nifty continues to trade in a range.
  • Fib levels shows price staying above 23.6%, Weakness only if price falls below this level. Bearish below 38.2% Fib level. Bulls need to stay above 23.6% Fib level to avoid a correction.
  • Rising 20 Day SMA too may act as support for BN Bulls.

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