Saturday, October 16, 2010

Banknifty - what to expect next week?

Weekly Chart:

From weekly chart we can see lower value is established. BN can attempt one trip back to Weekly VWAP of 12595 and if it gathers more momentum, then Weekly VAH of 12669 is also possible. 

Above that a strong move to previous high of 12785 & 12880 can be attempted.

Lets Look at another chart with HVNs to see the next targets on downside. If 12470-12480 are resisted on upside then a trip to 12358 & 12234 are on the cards


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