IMPORTANT POINTS FOR TRADING
- Banknifty broke out of a broad range of 11250 to 11550 and now it is important to close above 11550 for three consecutive days plus weekly close must to rally towards 11750.....11900.
- Banknifty is having good support around 11400-11450 zone.
- In above chart , all indicators are in bullish zone except RSI which is having mid point crises.
- Expecting minimum target of banknifty around 11700-11750.
- CONJBNSAR for 25th oct 2012 is 11478.If it triggers than sell signal will be generated. Expiry is near by hence one can book 2nd lot also without waiting for CONJBNSAR to trigger.
- 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.
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