Bank Nifty daily chart
Even though Bank Nifty was trading in green in for some time it has closed in red with deep cut. It has closed below 200 DMA. Is it going to fall further ? Lets see.
Bank Nifty weekly chart
In the above chart you can see that Bank Nifty is facing resistance around 11590 where trend line is located. Earlier this trend line was acting as support but now it will be a major resistance.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 26-02-13 |
| Initiated at | 5761 |
| Low since change | 5612 |
| Reversal if closes above | 5895 |
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