Bank Nifty had multiple peaks at 11660. Day before yesterday it had closed below this level which indicated down trend. But now short term uptrend has once again resumed. Since RSI is over sold this is low is low risk entry. We have initiated long in futures.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 29-11-12 |
| Initiated at | 5761 |
| Low since change | 5692 |
| Reversal if closes below | 5990 |
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