Bank Nifty Futures: Next Week Out Look (Monday 28 Feb 2011)

The banking index CNX Bank Index gained 225.10 points or 2.20 % after the Economic Survey proposed to consider separate licenses for basic and full banking services. Among the other banking plays, Canara Bank, Axis Bank, Bank of Baroda, Bank of India, State Bank of India, Union Bank of India, IDBI Bank and Punjab National Bank gained in the region of 2-4.5 % each.

Bank Nifty Futures shut stop at 10491.10, up 236.80 points or 2.31 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 10260 else above 10520 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10520 & above this level the next resistance is seen near to the level of 10640.

SUPPORT: It has first support close to the level of 10260 & below this level the next support is seen near 10030 marks.

Read more »

Bank Nifty Tips: Monday 21 Feb 2011

Bank Nifty Futures shut stop at 10927, down 203.40 points or -1.83 %.In banking sector majority of scrip battered down by 2-4 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 10880 else above 11130 it would be in an upward trend. 

RESISTANCE: It has first resistance close to the level of 11130 & above this level the next resistance is seen near the 11280 mark.
SUPPORT: It has first support close to the level of 10880 & below this level the next support is seen near 10675 marks.

Read more »