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BANKNIFTY VIEW FOR 8TH AUGUST 2012


IMPORTANT POINTS FOR TRADING
  • In daily chart , inverse head and shoulder pattern is developing.
  • On 3rd August, banknifty has made Long Lower Shedow Candle near the channel support which is interpreted as bullish signal and also confirmed by strong move thereafter.
  • Banknifty is overbought in hourly chart hence some pull back is expected soon.
  • Today if sustains above 10600-620  than it can move upto 10680---10700 zone.
  • And on downside it has support at 10435.

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