Bank Nifty weekly chart
In weekly chart Bank Nifty has breached an important resistance level and it has sustained for two consecutive weeks. As long as it is above the trend line possibility of reaching previous peak is very high.
ITC weekly chart
ITC has reached upper part of the channel. Candle stick formation shows that ITC is facing resistance around Rs.324. Breakout from this channel will take ITC to much higher levels.
Nifty medium term trend
| Trend | UP |
| Initiation Date | 18-04-13 |
| Initiated at | 5783 |
| High since change | 5924 |
| Reversal if closes above | 5680 |
Thought for the day
Authentic happiness isn’t something we can go out and get, buy, beg, borrow or steal,
it’s only something we can be, and it’s a choice we make with every breath we take.
