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OUTLOOK OF BANKNIFTY FOR 8TH FEB 2012

                Important EMA: 3 EMA @10278 & 5EMA @ 10205
                          JBNSAR @10261
 Today Bank nifty closed @10320.10 with 8 advances and 4 declines. ICICI bank down by 2.06% was the top loser whereas Bankindia was top gainer up by 8.70%.

As you see in above chart banknifty is in indecisive mode. On down side it has support near 10260 to 10280 & on upperside it has resistance around 10370 which also coincides with golden ratio 0.618% of  the fall from 11978 to 7766. and two days high @10430

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