Sunday, 8 November 2015

BANK NIFTY FUTURE NEWS UPDATE 09 NOVEMBER 2015

BANK NIFTY FUTURE

Just like nifty bank nifty is running in a channel in weekly chart, and taking resistance from 18000 level, we can short bank nifty from CMP for the target of 16500 our SL will be 17500. If we talk about quarterly results of the banks just SBI has presented a good result but PNB and Bank Of Baroda’s results was below estimations. Now all eyes will be on Bihar elections results.

Call: Short CMP: 17315 Initiation Level: 17100 Book Profit (Level 1): 16900 Book Profit (Level 2): 16520 Stop Loss: 17500 Conviction Level: moderate risk Reasoning- strong support has been broken Short term Trend: Recovery Medium Term Trend: up For the Traders: buy on deeps For Aggressive Traders: sell on rise Support: 16600-16500 Duration: 4-5 Days
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