Monday, March 7, 2011

Bank Nifty Technical Outlook for 8 March

In banking, CNX Bank lost 181.15 points or -1.65. Amongst the banking stocks, Oriental Bank of Commerce was the major loser with -3.48 % down, Andhra Bank at Rs 135.35, down 3.42 % and Axis Bank down by -3.38 %.

Bank Nifty Futures shut stop at 10808.50, down 158.65 points or -1.45 %.It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11155 else below 10640 it might be in a bearish trend.
RESISTANCE: It has first resistance close to the level of 11155 & above this level the next resistance is seen near to the level of 11325
SUPPORT: It has first support close to the level of 10640& below this level the next support is seen near 10520 marks.

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