BharatJhunjhunwala

Holding the 30500 levels the index may move to 31900, 32800

NSE:BANKNIFTY   NIFTY BANK
Notice that we have marked a very bullish scenario on the index. We believe that the budget can be a vitamin for the expected move. The index has been displaying strength & have hold on to an important pivot point on the chart. 30500 is a very important pivot for the index, if it holds here then a good move up is possible. Below this a sharp correction may grab the banknifty . The RSI is into positive to sideways zone while MACD has tripped into bearish zone. Holding the 30500 levels the index may move to 31900, 32800 & 33200 zones. 31160 is a minor resistance.
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
http://www.prorsi.com

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