Nifty and Bank Nifty Technical Analysis for 23 Oct’13

Nifty as on 22 Oct’13– 6202.80 (-2.15)    Bank Nifty as on 22 Oct’13– 10809.10 (+11.50)

Technically speaking, there is no major change in prices of the indices. But last two sessions, very small real body creates skepticism amongst market players. Many factors indicates exhaustion of trend, but there is no confirmation yet, which is needed. Unless and until, we see some sharp price action, we cannot conclude that trend is over.

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