Friday, 16 December 2011

Outlook of Bank Nifty for 16th Dec


Bank Nifty Future Immediate support comes at 8470-8352 panic selling can be seen only if 8352 is broken as that will target 8271-8231 on the downside. Resistance comes at 8470 and sustenance above will rush towards 8638 which is the strong resistance. Short covering will take place on crossover and sustenance above 8638 and it may take Bank Nifty future to 8720-8794.

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