In my article dated 5th Aug it was said that@ Bank Nifty is overall weak and as long it doesn't close above 10400 on a continuous basis I don't see any strength in it. Going higher it will face tough resistance around 10400 and could correct again.
http://moneymystery.blogspot.in/2013/08/bank-nifty-spot-10400-key-level.html
On Sharp declines we gave downside level of upto 9267 and below 8970 at 8488 n below where it made intraday low of around 8366.75 on 28th Aug however closed the day at 8760.85....took support close to our mentioned support level and bounced back.
It has once again reached to 10400+ levels which is also a big resistance. If it manages to close above 10400/10450 on continuous basis then we could see further big upside in Bank Nifty else it could get a good reverse gear where it can also correct heavily.
http://moneymystery.blogspot.in/2013/08/bank-nifty-spot-10400-key-level.html
On Sharp declines we gave downside level of upto 9267 and below 8970 at 8488 n below where it made intraday low of around 8366.75 on 28th Aug however closed the day at 8760.85....took support close to our mentioned support level and bounced back.
It has once again reached to 10400+ levels which is also a big resistance. If it manages to close above 10400/10450 on continuous basis then we could see further big upside in Bank Nifty else it could get a good reverse gear where it can also correct heavily.
No comments:
Post a Comment