January 31, 2015

BANK NIFTY technicals

BNF posts biggest intraday drop in 6 months hinting  at a possible trend reversal.

Current swing low is at 19000 levels. For confirmation of trend reversal, I will wait for formation of a higher swing low followed by a break of this level. This will take some time.

Till this happens, I will assume trend is up with SL at 18500 spot.

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