Bank Nifty
Bank Nifty is running into its crucial resistance of 9972 ahead of crucial fed meeting.
IF US FED announces QE 3 that will fuel inflation in Emerging market economy with rise in commodity prices.
Printing money will never solve problems it is just a life supporting on death bed of US economy.
Bank NIfty have been trading in 9260-9972 range for most part of this series.
Break above 9972 will open target till 10300 till expiry
Buy above 9972 TGt 10000.10054,10145
Sell below 9900 Tgt 9850,9809 and 9746
Nifty
The Nifty is currently stuck near multiple resistances between 5140-5200. Nifty is forming an Inverted Head and Shoulder Patten with Neckline placed at 5170.
Break of the same will lead to spurt in nifty till 5196 levels.
Above 5230 Nifty will lead to gap filling till 5320 level.
On Downside first sign of weakness will emerge below 5094.
Below 5007 the Uptrend trend will get terminated.
Buy above 5170 Tgt 5196,5230 and 5250
Sell below 5110 Tgt 5078,5047,5015
For valid HnS …very important that VOLUME supports it …we can NEVER chart a HnS pattern withoput VOLUME…its a MUST
Yes Sir,
The Problem is If i put volume Bar Chart becomes messy and difficult to elaborate. For my personal study i keep Volumes but when pasting on site i remove it so that chart becomes clean and readers are able to understand easily.
Rgds