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Mtechtips BANKNIFTY FUT intraday trading analysis 4-9-2012
Banknifty spot today closed at 9963 with loss of 28 points or –0.28%.today’s bank nifty high was 10,082 while low was 9941 and closed near low which indicate supply in market. after opening positive bank nifty does not able to hold support of 10,050 and as soon as slip below it sharp supply triggered in market. we seen new lower bottom every day which suggest sharp supply from market.
for tomorrow revised banknifty intraday resistances are 10,030 and 10,185 while on downside supports are 9878 and 9725.momentum and trend both are down for short term view.
stay short in bank nifty for target 9878 and
below with stoploss above 10050
positional traders stay short for target 9500 and below
with stoploss above 10,185!
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