Monday, November 22, 2010
Bank Nifty and a few Banking stocks
Keeping these in mind the following banking stocks could rise
The stock is moving within a channel and has possibility of rising from here to test the upper side of the channel.
Another stock with a DIAMOND SHAPE pattern. If bank nifty rises as per expectation of pattern it is forming then similarly the stock should probably rise to levels of 1350 as long as 1275 holds.
The stock appears very strong, and might have completed its pullback. A fresh rally might be possible if the stock can trade above 885 and hold above 806.
All opinions are based on my technical study; however, I do not vouch for the accuracy or the completeness of the matter. I am not liable for any potential damages that may be incurred while acting upon any information mentioned in this report. The views expressed are not of binding nature. The report is intended for a restricted audience & I am not soliciting any action based on it. Please exercise discretion and due diligence in making your decisions. Investments in Capital Markets are not my obligation or guarantee and are subject to investment risks. In no event will I be liable for any damages, including without limitation direct or indirect, special, incidental or consequential damages, losses or expenses arising in connection with this report or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation even if I am thereof, advised of the possibility of such damages, losses or expenses.