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Mtechtips BANKNIFTY FUT intraday trading analysis 31-8-2012
Banknifty spot today closed at 10,085 with gains of 74 points or 0.73% gains.today in market sharp short covering triggered in market in oversold zones.bank nifty trend still bearish from intraday and short term basis and we suggests positional buying above 10285 on closing basis only.
for tomorrow bank nifty intraday resistances are 10,130 and 10,285 while on downside supports are deep at 9975 and 9820.on intraday chart momentum turned into buy side but banknifty still below major averages and that shows trend still is down!
stay long in bank nifty future for intraday
for targets of 10130 and then 10285
but stoploss is deep down below 9975!
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