Market Trend Lab

On 25th April 2012 Banknifty faced a strong resistance at Day Agni level 10265 and slipped upto 10043.65 and took the support near 100DEMA.   Today Banknifty has hurdles near 10270 to 10330 zone above that expect run upto 10400. On downside supports are 100DEMA @ 10004 and 200DEMA @9981.80 below that expect a fall upto 9892 .

Banknifty will have strength only above 10371-400 and on downside 100Day EMA@10000 and 200Day EMA@9980 will provide a support. 

  (DAILY CHART) In Daily chart Banknifty has made a Flag Pattern. It is in a consolidation mode and finding stiff Resistance near 10500-600 zone. On downside Supports are 55EMA @10189, 100EMA @9996  and 200EMA @9977.65 (MONTHLY CHART)