Bank Nifty Technical Analysis

By | December 20, 2010

Bank Nifty has been under performing Nifty from past few trading sessions and if Nifty wants to get out of the range of 6070 than we will require the help of Bank Nifty.

As financial form the major component of Nifty we require there support for getting out of range.

Bank Nifty Daily Chart

Bank Nifty is forming a Higher Low and Lower high kind of formation with an ascending triangle formation.

Till Bank Nifty is unable to close above 5 EMA 11,373 and 5 EMA HIGH 11,515 Bank Nifty will remain in Downtrend only.

Levels for Tommrow Trades

Buy above 11303 Tgt 11369 and 11470

Sell below 11270 Tgt 11201 and 1111

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