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Thursday, November 25, 2010

Technical View on Bank Nifty (25th November ‘10)

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Bank nifty future as expected saw a sharp fall below 12000 levels and closed near the days low near 11886 levels. Bank nifty future will face resistance at 12000 and 12250 levels. We recommend selling on higher levels till it closes below 12250 levels. Support for bank nifty future is at 11750/11500 levels and has resistance at 12000/12250 levels.

Resistance: It has first resistance close to the level of 12215 & after it may face the next resistance close to the level of 12560.

Support: It has first support close to the level of 11637 & after it may get the next support close to the level of 11404.

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