BANKNIFTY VIEW FOR 29TH AUGUST 2012

IMPORTANT POINTS FOR TRADING

• Banknifty has broken down from triangle pattern of 300+ points may target 10100-10000 and yesterday made a low of 10022.
• Banknifty closed below 100 DEMA & 200DEMA.
• Now major support comes around 9980 and breaking of which will take to 9795.
• On upside resistance  comes around 10180.
• Banknifty will be weak if it stays below weekly agni level and JBNSAR 10342-10357.

NOTE: VERY SOON INCORPORATE A STRATEGY FOR CONSERVATIVE TRADE FOR THE ONE  WHO DONT WANT TO TRADE INTRADAY BUT TO HOLD FOR A SHORT PERIOD.