February 6, 2015

BANK NIFTY technicals

Based on my swing indicator, trend is up and will reverse on close below 18480. Note that buy signal was at 16427 spot.

However those following candlestick patterns and reversals would have exited longs when markets gave a big bar reversal day on 30-JAN (box).

EOD chart

Weekly chart

BNF lost 5% this week ... next support is 18000-17500.

BNF pivot levels

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