June 26, 2014

B NIFTY outlook

Bank NIFTY is trading in the high low range formed on election results day. So it is trading within a range formed by bounding levels at 14500 and 16000.

Size of range is 1500 points so whenever there is a breakout, expect a move of 1500 points.

My bias is bullish so I am expecting an upward breakout.

Already posted on 17th MAY that my long term target for BNIFTY is 20000.

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