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BANKNIFTY VIEW FOR 9TH AUGUST 2012


IMPORTANT POINTS FOR TRADING
  • In daily chart , inverse head and shoulder pattern is developing.
  • Banknifty was overbought in hourly chart and as expected got some pull back at the end of the session yesterday.
  • In daily chart above there is a mid point crises in RSI indicator whereas  MACD is about to give a bullish crossover signal.
  • Now banknifty has a resistance band of  10640-10700.
  • And on downside it has support at 10475 and below which it can slip upto 10380--10350.

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