IMPORTANT POINTS FOR TRADING
- On 31st July 2012, a day of RBI policy, Banknifty made a high of 10467.95 and low of 10239.7 that is exactly resisted at Weekly JBNSAR Level 10468 and got support around Daily JBNSAR level 10226
- Banknifty is overbought in weekly chart and oversold in daily chart hence every rise is facing selling pressure.
- Now on Upside immediate resistance for Banknifty is 10450-470 zone and above that it can rally max upto 10610.
- On downside it has support around 10250-10260 below which it can slip upto 10150.
- Today just keep a watch on Daily JBNSAR level 10255 and weekly JBNSAR level 10468 for further clue...
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