SUNDAY




WEEKLY UPDATE



Bank nifty last week went up to 19500 levels but could not able to break the above said



levels decisively and dropped back to 18678 levels, it is under Head and Shoulder pattern



formation and the neckline for the same remains at 18500 levels next immediate supports



for the commodity is at 18340 levels breakdown below the above said levels will have a



correction up to 17850 levels, trend remains bearish and sell on rises is the best bet .



RSI for bank nifty also confirms the bearish trend which is well below its 50 mark.



Weekly Call :



Sell Bank Nifty between 18680 – 18750



with stops above 19050



for targets 18350,



any breakdown below 18350



add further shorts for targets 18000 and 17850.