we may expect bank nifty at 12600 13200 in short term

we may expect bank nifty at 12600 13200 in short term

bank nifty weekly chart is indicating that it has been  bounced from its  medium term support up  trend line .

Uptrend Line

An uptrend line has a positive slope and is formed by connecting two or more low points. The second low must be higher than the first for the line to have a positive slope. Uptrend lines act as support and indicate that net-demand (demand less supply) is increasing even as the price rises. A rising price combined with increasing demand is very bullish, and shows a strong determination on the part of the buyers. As long as prices remain above the trend line, the uptrend is considered solid and intact. A break below the uptrend line indicates that net-demand has weakened and a change in trend could be imminent.

 

 

 

we are expecting its possible support and resistance levels as per chart are  Chart is self explanatory showing levels 11200 11400 12200 12400  12600 12900 13130 ..

technical indicators are supporting bulls what ever may be the out come of RBI policy we are expecting 600 to 800 points upswing in bank nifty within a week or 2.

week only  if cracks below 11600 with heavy volumes which is next to impossible but surprises are always there so keep sl at 11600 for all positional long trades .

Free real time calls /support will be available at chat room dhanvarsha 

And Premium at manthan chat room ..

Trend Lines

Technical analysis is built on the assumption that prices trend. Trend Lines are an important tool in technical analysis for both trend identification and confirmation. A trend line is a straight line that connects two or more price points and then extends into the future to act as a line of support or resistance. Many of the principles applicable to support and resistance levels can be applied to trend lines as well.

 

we may expect bank nifty at 12600 13200 in short term