IMPORTANT POINTS FOR TRADING
- Banknifty is consolidating and is in 'sell on rise' mode.
- Now on downside it has a three important support that is Banknifty previous top / high of the year 11226 than channel support 11170 and than neckline of inverse head and shoulder pattern 11125.
- Immediate resistance will be 11380-11430 zone.
- Now CONJBNSAR is 11488 for 11th oct 2012 and from today no filtration on CONJBNSAR Value. Yesterday One lot of banknifty booked with 100 points gain and 2nd lot is on hold till CONJBNSAR reversal signal.
- In daily chart Banknifty has made inverse head and shoulder pattern and also broken the neck line which gives target of 12500 in medium term.
NOTE: Banking stock recommendations based on Pair Trading strategy started under tab 'Banking stocks'... Plz observe it for sometime..
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