Bank Nifty after a sharp gap up opening surpassed the resistance of
11,450 levels. The index has formed a bullish pattern and one should maintain a
positive bias in the near term for an upside target of 11,900 & 12,050
levels.
Nifty
formed a bullish pattern on the weekly charts which has confirmed a positive
bias. The index last week managed to hold the crucial support of 5,580 levels
and bounced sharply as most of the technical indicators were in the oversold
territory. There is an immediate resistance at 5,860 levels on the upside and
on a decisive close above expect rise to 5,920 & 5,950 levels
For
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