Tuesday, March 15, 2011

Bank Nifty Technical Outlook for 16 March

In banking, CNX Bank Index lost 167.45 points or -1.54 %. Amongst the banking stocks ICICI Bank, Kotak Mahindra Bank and VIjaya Bank turned into red.

Bank Nifty Futures shut stop at 10740.65 down 207.60 points or -1.90 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 10610 else above 10850 it might be in an bullish trend.

RESISTANCE: It has first resistance close to the level of 10805 & above this level the next resistance is seen near to the level of 10975
SUPPORT: It has first support close to the level of 10610 & below this level the next support is seen near 10520 marks.

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