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Tuesday, November 30, 2010

Technical Overview on Bank Nifty (30th November ‘10)

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Bank nifty future traded in a range of 11950-11750 after sharp fall during last week. It closed near the day high. One should take position after proper break out on either side. Resistance for bank nifty future is at 11950 /12100 and support is at 11670/11500.

Resistance levels: It has first resistance close to the level of 11950 & after it may face the next resistance close to the level of 12100.

Support: It has first support close to the level of 11670 & after that it may get the next support close to the level of 11500.

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