December 14, 2014

BANK NIFTY technicals

Unlike the nifty which has broken its recent swing low, BNF trend is still up. It is actually looking strong compared to the nifty.

Expect more strength above 18600.

Weekly charts: here we have complete reversal of previous week's gains but otherwise nothing dramatic.

Watch for close below weekly low (18180) as warning.

By a strange co-incidence, nifty crucial level is 8180!

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