Technical updates on Bank Nifty and JSW Steel

Bank Nifty

Bank Nifty is in down trend and in today's trading session it has lost significant 300 points. It has closed at trend line support level which was expected.Check updates on Feb 10 th.

http://karthik4bullsnbears.blogspot.in/2013/02/technical-updates-on-nifty-and-bank.html

What next ??

Trend remains down and we will continue to hold short with tight stop loss.

JSW Steel

JSW is trading below support level. Weekly close below this level will lead to further fall.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

Thinking is progress. Non-thinking is stagnation of the individual, organization and the country. Thinking leads to action. Knowledge without action is useless and irrelevant. Knowledge with action, converts adversity into prosperity -Dr. Abdul Kalam