Wednesday, October 7, 2009

Bank Nifty views.

Bank Nifty's intra support may be around 8750.
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Bank Nifty is relatively bullish and so made a new high compared to Nifty. However it is still in a broad band of trading range 8550 to 8950.
It is likely to retracing the intra fall of 8963 to 8790.
50% @ 8877 & 62% @ 8897 are the ideal levels to sell it if the trading the range continues.
Trade long with SL @ 8790 or wait to sell higher.

I do not follow Bank Nifty and the views are based on Nifty as well as Bank nifty's 5 day chart.

4 comments:

subrat said...

sir pls display yr nifty chart table

Akhil said...

Hi Mr. Ilango

RSI is going up and Nifty price is going down is it a bullish divergence?

Regards
Akhil

Ilango said...

Hi..Akhil,
It is an indication of some bullishness in the shortest time frame.

Sunny said...

thx a lot ilango sir for give the view of bank nifty

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