Nifty Daily and Bank Nifty Daily Chart Technical Analysis

By | September 7, 2012

Nifty

Nifty as  discussed yesterday has taken support at trendline support and formed a double bottom at 5217. Now trend is Sell on Rise till 5331 is not broken. SGX Nifty is suggesting a gap up opening till 5283-5295 is not broken in hourly basis trade with caution on long side for intraday.

Buy above 5283 Tgt 5295,5315 and 5331

Bank Nifty

Bank Nifty did not break 200 DMA and its it trendline support also, Traingle formation on chart with a gap up opening we can see a rally towards 10500 in coming days till 9814 is not broken.

Buy above 10006 TGt 10066,10102 and 10190

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