Saturday, August 27, 2011

Bank Nifty Technical Outlook: Market Review

Bank Nifty Index,  on Last day of the week  lost -202.70 points or -2.63 %. Amongst the banking stocks Federal Bank, Oriental Bank of Commerce and Lakshmi Vilas Bank were the top looser in the sector. 
Bank Nifty Futures shut stop at 8962 down by -242.30 points or -2.63 %. From here 8815 is seems to be crucial level for downside and bank nifty can slip down more below the same.  9255 would be required to achieve an upside momentum.

RESISTANCE: It has first resistance close to the level of 9255 & above this level the next resistance is seen near the 9420 mark.
SUPPORT: It has first support close to the level of 8815 & below this level the next support is seen near 8400 mark.


Posted By Commodity MCX Tips