Bank Nifty weekly chart
Bank Nifty has breached trend line resistance which is a bullish sign. We have another two trading sessions in this week and if Bank Nifty doesn't sustain above this trend line then we can consider short. If it sustains above this trend line then possible target will be 12200. Medium term trend is up and reversal will be closing below 11650 .
HDFC Bank
HDFC Bank breached trend line resistance at Rs.645 but now uptrend is temporarily halted at another resistance. Supports and resistance will be breached some day but traders should be little bit cautious at these levels as they can cause reversal. Down trend in HDFC Bank will start if it closes below Rs.640.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 26-02-13 |
| Initiated at | 5761 |
| Low since change | 5569 |
| Reversal if closes above | 5780 |
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