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.

Read more »

Bank Nifty For Monday 21 March 2011

In banking, CNX Bank Index lost -105.65 points or -0.96 %. Amongst the banking stocks Canara Bank, City Union Bank and Bank of Maharashtra lead the row.

Bank Nifty Futures shut stop at 10715.90 down -136.05 points or -1.25 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 10615 else above 10960 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10960 & above this level the next resistance is seen near to the level of 11050

SUPPORT: It has first support close to the level of 10615 & below this level the next support is seen near 10520 marks.

Read more »