Bank Nifty near trendline support,EOD Analysis

Bank Nifty after forming multiple tops in range of 17940-17954  respecting our Weekly Chopad level of 17950 after giving breakout above 17850 failed to move above Friday high of 17947 and today closed below the breakout area of 17850 but bounced from trendline support. Bank Nifty took support @ the rising trendline as shown in below chart and closed above the demand area 17652. Friday we

Posted in: Technical Analysis