Research of Indian Stock Market

Saturday, July 23, 2011

BANK NIFTY WEEKLY OUTLOOK!!!




As same  like nifty bank nifty also trading i range bound(11300-10500),The trend line 11325 acts as a strong resistance level , In candle stick chart last two weeks Hanging Man Pattern has formed  . In July 26th RBI announces monitory policy.

 So coming week will be trade in negative zone and in daily chart Bearish engulf pattern has formed .So we can go Fresh short with a stop loss of 11325

Target 10500

 

Copyright M. Subramaniam