bank nifty weekly forecast report
bank nifty daily chart analysis
Bank nifty spot index on friday closed at 12363 with loss.on chart bank nifty short term trend and momentum both bullish as trading above all short term averages.
on chart bank nifty weekly support at 12262 and then month support at 11825 while in last 3 month support level is 11391.above this for short term traders strategy will be buy on dips on buy near supports.
bank nifty daily indicators showing signs of correction and coming down from overbought zone.short side suggested below 12265 only with strict stoploss.on downside 11800 to 11500 will be correction targets but below 12260.
bank nifty weekly chart analysis
bank nifty index this week closed with gains.this was 3rd successive positive closing week for bank nifty index.
on chart medium to long term trend and momentum both bullish.on support side bank nifty 6 month support is 11055 and then 12 month support level 10655.in last 10250 is 24 month support level.
on weekly chart,bank nifty indicators still bullish but in overbought zone so upside limited and correction is due.
Bank nifty weekly outlook for 10 to 14 december 2012
watch 12265 on closing basis if slips below then go short for targets of 12100-11850-11800.till then one can hold longs for upside targets.on upside 12800-13100 are revised short term targets.
medium to long term investors keep stoploss below 11800 on weekly closing basis for all longs in bank stock or bank nifty.correction upto 11500 is possible in dec-jan series?