IMPORTANT POINTS FOR TRADING
- 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.
- Due to friday freak transaction,clear direction of Banknifty will be known by only breaking either side of 11415-11595 levels.
- Now immediate resistance will be 11550-11595 zone.
- On downside it has a support around 11415. (ignoring friday freak transaction).
- Banknifty is highly overbought in daily chart but no weakness in trend.
- Now CONJBNSAR is 11418 for 8th oct 2012 and if banknifty breaks the same than only trend will be reversed else the uptrend will continue.
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