Wednesday, August 27, 2014

BankNifty Pre-Market View.

BN seems to have completed the 4th wave with a break of the channel.Hence, monitor the retraces from the low of 15503 to manage your trades.
Alternatively, keep an eye on the retrace of the fall from 15973 to 15503 for resistances around the cluster zone of "15781 to 15845", coincides with 61.8% & 73.6%.
With the "Trend" intact and hour technicals completing their corrective move from OB to OS zone, prices have resumed their uptrend.

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