Nifty and Bank Nifty Technical Analysis for 07 Jan’14

Nifty as on 06 Jan’14– 6191.45 (-19.70)    Bank Nifty as on 02 Jan’14– 11049.05 (-132.60)

There is nothing much to infer from price action. Only Banking Index is turning weak, but still support of 11000-10900 is intact and CNX IT index may cool-off, but it is early to comment on it.

It’s testing times, Bears who are already short in the market may be enjoying the fruits, but we believe it is more risky bet here. Let’s see, what is price action today, meanwhile we are just spectators.

Keep visiting Way2Profits, for genuine & unbiased Daily view on the Nifty and Bank Nifty.

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