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OUTLOOK OF BANKNIFTY FOR 28TH FEB 2012

Today banknifty opened @10180 above agni level of 10108 and then went towards todays JBNSAR 10518 once that crossed it made high of 10561 (given gain of 40 points upward) but failed to close above JBNSAR.

Tomorrow is a month end hence presenting monthly chart of banknifty
(click to enlarge)
10600-650 is a breakout point of  month from which it fired upto 11200 upward.
So it is important for banknifty to close month above this channel resistance for further upmove.

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