BANK NIFTY closes above 20 period moving average (weekly)
Two positive things today happened.
Though bank nifty violated yesterday's low it bounced
to close above the 20 period moving average on weekly basis.
It has has respected the 61.8 percent retracement level.
next target for bank nifty to close above the orange line shown in the chart.
Increasing FII selling certainly a matter of concern.
Hence long positions should be hedged.
Though bank nifty violated yesterday's low it bounced
to close above the 20 period moving average on weekly basis.
It has has respected the 61.8 percent retracement level.
next target for bank nifty to close above the orange line shown in the chart.
Increasing FII selling certainly a matter of concern.
Hence long positions should be hedged.
