Bank Nifty Weekly Technical Outlook for 24th June, 2013

Nifty Weekly Chart as on 21 June’13 – 11340.15 (-582.70)

Nifty Weekly Chart as on 21 June’13 – 11340.15 (-582.70)Bank Nifty Daily Chart as on 21 June’13 – 11922.85 (-35.25)

Time and again it is observed that traders need a lions heart to trade in Bank Nifty, as movements are so sharp many a times that, in fraction of movement you can gain or loose significant amount in a single trade. Last week, was something like that only.

Let’s take a look on technical outlook of Bank Nifty.

  • Also it can be seen in attached chart, Bank Nifty easily moved below its trend line support, so we can say that this trend line has no more significance going ahead, as it failed in the exam. But now, we have one more trend line coming in, whether pries beholds above this line or no we have to see.

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