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BANKNIFTY VIEW FOR 2ND AUG 2012




IMPORTANT POINTS FOR TRADING
  • Banknifty is overbought in weekly chart where as in daily chart there will be mid point struggle in RSI and Stochastic Indicator. MACD is still in selling mode.
  • 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 10315-10340 zone below which it can slip upto 10220.
  • For the upmove it is important to sustain above 10470... 

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