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| BUZZING NIFTY: BANK NIFTY 2012 CHART |
FOR 2013 BE CAUTIOUS AS TWO VERY RELIABLE PATTERNS INDICATE DOWNSIDE FOR THE INDEX. A POSSIBLE BUMP AND RUN REVERSAL PATTERN DEVELOPING WHICH WOULD BE ACTIVATED ON THE BREAK OF THE RED LINE.
ALSO A BEARISH RISING WEDGE FORMATION INDICATE THE TOP IS NEAR IN THE BANK NIFTY
KEEPING AN EYE ON THE BREAK OF RED LINE SHOULD BE REWARDING THE TRADERS AND THE BREAK OF 1 JAN LOW OF 12550 LEVEL TO BE WATCHED AS FIRST SIGN OF WEAKNESS, TILL THEN BE WITH THE TREND AND HOLD LONGS AND FRESH LONGS CAN BE ADDED ON THE BREAK OF THE UPPER TREND LINE.
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16 comments:
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Indian markets likely to open lower in the early trade as global cues displayed mixed cues. SGX Nifty is trading 7.50 points lower.
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