BANK NIFTY REVIEW / ANALYSIS

 Dear All,

> BANK NIFTY DAILY CHART <

I have counted the Current UPmove as Wave X from 38612 as on 16th March, 2013, tested the trendline Resistance. Above the trend line may trigger fresh rally and short covering. Else may start Correcting. 

> BANKNIFTY Hourly Chart <

In Hourly Chart - Its a WXYXZ setup and Wave Z moved up till 1.27% to test 41275. Wave Z was slow and steady , with out much retracement. 

> FIN NIFTY DAILY CHART <

Fin Nifty break out on daily chart. Resistance 18460 / 18740 must cross for next upmove. Chola fin, MnM Fin, Bajaj fin, and Muthoot has really helped last week to rally. Yet more Fin Serv Companies results to be declared, may help to rally further.

> NIFTY PSU BANK DAILY CHART <

PSU Bank index may Resist @ 3785, 3845 &3930. On the downside Support @ 3290 &3140. 

> NIFTY PVT BANK CHART <

HDFC Twins helped the PVT Bank index and Entire Banking Pack to Rally last Week.

> HDFCBANK DAILY CHART <

This Mover should decide the Bank NIFTY's Next move. Might cross 1702 to test 1870 or to break down till 1532 / 1870. Most of the Pvt Bank Stocks are highly over bot and Results outcome may trigger rally. Lets See.

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