Contact Us | Log In
Search
Sensex: 32467.1 +64.70 Gold: Rs.29633.00
Nifty: 10161 +13.50 Silver: Rs.40075.00
Bank Nifty Keeps Bulls in the Hunt - IndiaNotes.com
Bank Nifty Keeps Bulls in the Hunt
elearnmarkets | Published: 13 Sep, 2017  | Source : IndiaNotes.com

Bank Nifty opened above its 5 Day High EMA (24726 approx) today the 13th of September. The Index traded in a range of 207 points throughout the day and closed above the upper range of the Bollinger Band (24781 approx).


Hourly Technicals:


In the Hourly Chart, Bank Nifty has closed near its 5 Hour Low EMA of (24832 approx).The Index is likely to face immediate resistance around (24979 approx) mark.If Bank Nifty breaks above 25000, the next resistance area will be (25200 approx).


Hourly RSI and CCI stands perfectly poised at the higher end of the normal range while the ADX is indicating that volatility is on the cards.


Daily Technicals:


The daily chart indicates that Bank Nifty has closed above the 5 day high EMA of (24727 approx). If the Index breaks above the 25000 mark, the next resistance will be 25200. On the downside however, if Bank Nifty breaks and closes below its 5 Day high EMA (24725 approx), it could find support at the lower end of the 5 EMA(24525 approx).


The daily RSI and CCI indicator has closed near the upper end of the normal range.The ADX however indicates lack of momentum

  Read full report Click here to read the full report


About elearnmarkets

www.elearnmarkets.com is a young vibrant company established with the vision of taking online financial education to a new level, both in India and abroad. Guided by their mission of spreading financial literacy, they are constantly experimenting with new education methodologies and technologies to make financial education convenient, effective, and accessible to all. They provide courses on basic finance, Fundamental Equity research, Technical analysis, Economics, Derivatives, Currencies and Commodities and many of their courses are conducted by reputed market experts and certified by leading exchanges like NSE, MCX and NCDEX.


For more information please write in to editor@indianotes.com


Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.