banknifty forecast for next week 10 to 14 jun 2013

banknifty forecast for next week 10 to 14 jun 2013

 

banknifty daily chart technical analysis

banknifty spot index last closed at 12231 with loss.on daily chart banknifty trading below all short term averages and trending lowers.on chart banknifty 3 month average is at 12370 and first major resistance on upside.12360 is weekly average and 12570 month average and resistances.

banknifty daily chart indicators are in bearish territory and with bearish divergences.so trend and momentum both down for short term.on chart 12600 is neckline and major resistance and below this strategy remain sell on rise.

banknifty weekly chart technical analysis

banknifty this week closed with loss.in this week banknifty spot made high at 12520 while low was 12231.total 320 points volatility and 3rd straight week of losses.

on weekly chart banknifty showing corrective pattern and trending towards 6 month AVEAREGS SUPPORT.ON DOWNSIDE 12100 IS 6 MONTH AVERAGE AND FIRST SUPPORT ON WEEKLY CHART.THEN COMES 11670 12 MONTH AVERAGE AND 11090 2 YEARS AVERAGE SUPPORT LEVEL.ON WEEKLY CHART BANKNIFTY INDICATORS ARE ALSO WITH BEARISH DIVERGENCE AND SUPPORTING CORRECTION.

banknifty forecast for next week 10 to 14 jun 2013

FOR NEXT WEEK,OVERALL STARTEGY REMAIN SELL ON RISE OR SELL NEAR 12600 WITH STOPLOSS AND EXPECT DEEPER CORRECTION UPTO 11600 AND BELOW.IF CLOSE ABOEV 12600 AND HOLD FOR 1-2 SESSIONS THEN EXPECT BULLISH REVERSAL.

FROM MEDIUM TO LONG TERM VIEW,BANKNIFTY GOING THROUGH CORRECTIN PAHSE AND WATCH 12100 AND 11670 SUPPORT LEVELS.IF HOLD AND GIVEN POSITIVE CLOSING ABOVE THIS LEVELS WITH BULLISH SIGNAL ON INDICATORS THEN MUST BUY 3-5% RALLY IN MEDIUM TERMS.BUT AS RUPEE TUMBLING DOWN WE MAY SEE SHARP PRESSURE ON BANKS.

Read More :

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
COPYRIGHT © 2017. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy       

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.