Bank Nifty
Bank Nifty has formed triangle formation in daily chart. In today's trading session it has closed exactly at resistance level. If it breaks trend line resistance then we can expect uptrend. However low risk entry is to buy if it closes above 200 DMA.
ICICI Bank
ICICI Bank has breached trend line resistance. MACD , RSI are indicating buy and so traders can create long position.
Range of the market is as of now narrow. Either uptrend or downtrend is not sustaining for long time. Since medium term trend of market is down long position holders should come out little bit early so that you won't end fall in to traps.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 26-02-13 |
| Initiated at | 5761 |
| Low since change | 5569 |
| Reversal if closes above | 5780 |
Thought for the day
Every action that helps up to manifest our divine nature more and more is good. Anything that retards that is evil. - Swami Vivekananda
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